BusinessMirror June 10, 2020

PHL attained 7 of 10-pt agenda–Neda

By Cai U. Ordinario

F

OUR years into the President’s term, the Duterte administration is past the halfway mark in achieving its own zero to 10-point socioeconomic agenda, according to the National Economic and Development Authority (Neda).

In an online forum on the World Bank’s Philippine Economic Update (PEU), Socioeconomic Planning Secretary Karl Kendrick T. Chua said the government has already achieved 7 points on the agenda to date.

Chua said the achievement of the socioeconomic agenda allowed the country to face the current pandemic. He said the Philippines

NEW kiosks constructed by the city government of Manila for street vendors line Ilaya Street in Divisoria. ROY DOMINGO

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would have been worse off without the reforms undertaken in the past four years.

“This context is very important for us to understand that there is also a very big opportunity for us to turn this crisis into an opportunity,” Chua said on Tuesday.

Chua said among the seven goals achieved were maintaining macroeconomic management and the pursuit of tax reform through the passage of key bills such as the Tax Reform for Acceleration and Inclusion (TRAIN) Law. The list also includes, in part, efforts to improve doing business in the country through the passage of the Ease of Doing Business Act. Chua added that the govern-

ment had also achieved a 5-percent of GDP level of infrastructure spending as early as 2018; while boosting rural development was achieved through the passage of the Rice Trade Liberalization (RTL) law.

The country’s chief economist said the remaining two goals are on social protection, whose backbone is the National ID system, while the last one is the goal on human development, which was achieved through the passage of the Universal Healthcare Act. The Neda chief said the government will continue working toward its socioeconomic agenda to enable the country to turn the pandemic into an opportunity.

See “Agenda,” A2

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‘GNI TWEAKS, PANDEMIC STALLED MARCH TO UMIC’ www.businessmirror.com.ph

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Wednesday, June 10, 2020 Vol. 15 No. 243

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FOREIGN LOANS FOR PHL COVID RESPONSE NOW AT $6.51B–DOF

By Bernadette D. Nicolas

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WITH the lockdowns eased but people’s use of public transport still restricted, motorcycles and e-scooters are becoming more popular on the road. BERNARD TESTA

T

By Cai U. Ordinario

HE rebasing of the National Income Accounts (NIA) and the pandemic prevented the Philippines from becoming an Upper Middle Income Country (UMIC) this year, according to the World Bank.

In an online forum on the World Bank’s Philippine Economic Update (PEU), World Bank Philippines Senior Economist Rong Qian said these were the two things that were unexpected in the country’s journey to become a UMIC. Qian said with this, it may be expected that the Philippines will reach UMIC status in two years or in 2022, when GDP growth is expected to post above 7 percent.

“On the Upper Middle Income

status, I think there’s two things that we were not expecting. First is the PSA has revised the computation of GNI that reduced quite a lot of the Gross National Income that is used in computing the Upper Middle Income status and second, the contraction for 2020. Assuming that the country recovers in the next two years, we can expect the Philippines can become Upper Middle Income in the next two years,” Qian said.

Continued on A2

Mla up 29 notches on costliest cities list

By Dennis D. Estopace

M

ANILA zoomed from the 109th to the 80th spot on the list of most expensive cities in the world for expatriates, the 2020 “Cost of Living Survey” by Mercer Llc. reveals.

The country’s capital shares the spot with Detroit, United States, which jumped from 90 among 200 cities included in the survey conducted prior to the coronavirus disease 2019 (Covid-19) pandemic.

Mercer said the survey helps employers reassess global mobility pro-

grams amid uncertainty from pandemic. It measured the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment.

According to Mercer, the data for this year’s survey was collected in March; price variances in many locations were not significant due to the pandemic.

“The Covid-19 pandemic has posed complex challenges to businesses and the Asian Development Bank estimates global economic impact to be between $5.8 trillion and

PESO EXCHANGE RATES n US 49.8860

$8.8 trillion this year. The situation remains fluid and uncertain; organizations need to plan, observe and be agile in their response and more importantly, keep their global workforce engaged throughout,” Mercer Asia CEO Renee McGowan was quoted in a statement as saying. “As countries in Asia now begin to review the travel restrictions that have been put in place, companies will have to further assess its impact on employee mobility and their strategies.”

Asia leads

SIX of the top 10 cities in this year’s

ranking are in Asia. Hong Kong retained its spot for the third consecutive year as the most expensive city for expatriates both in Asia and globally due to currency movements measured against the US dollar, driving up the cost of living locally.

The global financial center is followed by Ashgabat, Turkmenistan, which overtook Tokyo, now ranked third.

Singapore is in fifth, down from two places last year, while Shanghai and Beijing are sixth and 10th, respectively.

See “Manila,” A2

HE government has so far secured a total of $6.508 billion in loans and grants from foreign lenders, including the $750-million loan from China-led Asian Infrastructure Investment Bank (AIIB), to finance the government’s response to the Covid-19 pandemic.

Finance Undersecretary Mark Dennis Y.C. Joven, head of the DOF’s International Finance Group, told the BusinessMirror they are still in talks with multilateral lenders, such as Asian Development Bank and AIIB, and the country’s bilateral partners Japan and France for more potential financing agreements for Covid-19 response.

Last Friday (June 5), the Philippines signed the $750-million loan accord with AIIB.

The loan amount, which the government expects to be fully disbursed within June, is not yet included in the $5.758 billion worth of financing agreements posted by the Department of Finance (DOF) on its website.

According to a separate statement from DOF, the $750-million loan agreement cements AIIB’s commitment to co-finance with ADB the Philippines’ Covid-19 Active Response and Expenditure Support (CARES) program, a quick-disbursing budget support facility designed to fund the government’s efforts to combat Covid-19 and mitigate the adverse impact of the contagion on the economy.

The loan package from AIIB carries a maturity period of 12 years inclusive of a threeyear grace period.

The AIIB’s co-financing for the CARES program is the second loan it has extended to the Philippines.

In 2017 the AIIB approved a $207.6-million loan for the $500-million Metro Manila Flood Control Management Project, which it co-financed with the World Bank.

Under its Covid-19 Crisis Recovery Facility, the AIIB has committed an initial $5 billion to $10 billion “to support AIIB members’ urgent economic, financial and publichealth needs and quick recovery from the crisis.”

As of June 4, the Department of Finance said in a separate report it has raised $5.65 billion in budgetary support financing from the Asian Development Bank (ADB), World Bank and from the issuance of double-tranche 10-year and 25-year dollar-denominated global bonds.

Of this amount, $4.05 billion has been disbursed to the government.

Broken down, the $5.65-billion budgetary support financing includes three loans from ADB ($2.1 billion), three loans from World Bank ($1.2 billion) and the sale of $2.35 billion 10-year and 25-year dollar-denominated global bonds.

On top of the budgetary support financing from foreign lenders, the Philippines has also secured a total of $108 million in grant and loan financing to support the various projects to be implemented by agencies involved in Covid-19 response.

Of the $108 million, project loan financing amounted to $100 million while the remaining $8 million was for grant assistance.

Of the $8-million grant assistance, $5 million came from ADB for Rapid Emergency Supplies Provision and $3 million from ADB as well for Covid-19 Emergency Response Project.

Only the $100-million Covid-19 Emergency Response Project loan agreement with World Bank was listed so far under project loan financing.

The country’s debt-to-GDP ratio is projected by the government to increase to 49.8 percent this year from 39.6 percent last year.

For 2021 and 2022, the Cabinet-level Development Budget Coordination Committee (DBCC) expects an even higher debt-to-GDP ratio of 51.5 percent and 52.3 percent, respectively.

Despite the projected increase in the country’s debt-to-GDP ratio, economic managers had said this is still far lower than the most recent peak of 71.6 percent in 2004.

Debt-to-GDP ratio is used to gauge a country’s ability to pay off its debt.

PLACARDS demanding that the Department of Education address issues on the reopening of schools amid the pandemic are displayed by members of the Alliance of Concerned Teachers in a drive-by protest at the government agency’s main office in Pasig City. NONOY LACZA

n JAPAN 0.4602 n UK 63.4799 n HK 6.4369 n CHINA 7.0559 n SINGAPORE 35.9202 n AUSTRALIA 34.9900 n EU 56.3363 n SAUDI ARABIA 13.2976

Source: BSP (June 9, 2020)

News BusinessMirror

A2 Wednesday, June 10, 2020

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Govt raises ₧30B in T-bonds sale

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By Bernadette D. Nicolas

HE Bureau of the Treasury fully awarded P30 billion in 3-year Treasury bonds (T-bonds) and opened the tap facility for an additional P20 billion on the back of robust demand.

The auction was oversubscribed as tenders reached P124.2 billion, more than four times the P30-billion offering.

The average auction rate for the tenor dropped by 38.8 basis

Agenda…

Continued from A1

He said this is not something new for the Philippine economy. He said crises such as the Asian Financial Crisis (AFC) became an opportunity to strengthen the financial sector, while the impending fiscal crisis in 2004 enabled the country to manage its fiscal position better.

“We created a lot of fiscal space over the years to fund K-12, conditional cash transfers, the PhilHealth indigent program, and in our infrastructure program,” Chua said.

In 2016 the Duterte administration laid down the foundation of its socioeconomic thrusts in the zero to 10-point agenda. Goal Zero was on maintaining peace and order.

The other goals that were not mentioned by Chua included ensuring security of land tenure to encourage investments, addressing bottlenecks in land management and titling agencies and investing in human capital development, including health and education systems; and matching skills and training to meet the demand of businesses and the private sector.

The list included promoting science, technology and the creative arts to enhance innovation and creative capacity toward self-sustaining, inclusive development and strengthening the implementation of the Responsible Parenthood and Reproductive Health Law to enable especially poor couples to make informed choices on financial and family planning.

points to 2.558 percent from 2.946 percent in the previous auction.

The rate was also lower than the prevailing secondary-market rates as well as the original 3.5-percent coupon rate.

Asked why demand is still strong, National Treasurer Rosalia V. De Leon told reporters the “market is flushed with liquidity and earned real positive rates given benign inflation.”

With a remaining life of 2 years and 10 months, the 3-year Tbond is set to mature on April 21, 2023.

The total outstanding series now stands at P161.7 billion.

On Monday, the Treasury also raised an additional P10 billion in 364-day T-bills through the tap facility auction.

This is on top of the P28 billion in 91-day, 182-day and 364-day Tbills it sold on the same day.

For this week, the Treasury has so far raised P68 billion in debt

Covid-tied family planning setbacks alarm DOH

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MID the Covid-19 pandemic, the Department of Health (DOH) has flagged the major service disruptions on family planning (FP), and worries that continued lockdowns may lead to a spike in unintended pregnancies.

“There are studies that . . . [an estimated] 7 million unintended pregnancies may occur, all over the world, if the lockdown carries on for six months [if major disruptions to health services will continue]," Undersecretary Maria Rosario Vergeire said during the virtual media forum with health reporters on Tuesday.

She was referring to data released by the United Nations Population Fund (UNFPA) in April 2020, which showed the enormous impact Covid-19 is having on women as health systems become overloaded, facilities close or only provide a limited set of services to women and girls, and many choose to skip important medical checkups owing to fear of contracting the virus.

“We have the ‘Usap Tayo’ family planning campaign to keep talking about family planning during this stressful and uncertain times because we want to avoid unintended pregnancy from unmet family planning age,” Vergeire said, adding that based on their own study, about 25 percent of FP services with local hospitals and Regional Health Units are hampered by the pandemic.

Vergeire stressed that FP is just one of their essential health services along with immunization and provision of medicines for tuberculosis and HIV.

Among the factors affecting FP services in local hospitals and barangay health centers, she added, are limited staff, limited mobility, lack of stocks and physical distancing.

Couples in public health centers are offered FP information and services by doctors and other healthcare providers—but they can choose freely—between the natural methods of family planning or go with the medically safe modern methods like pills, injectables, condoms, intrauterine devices (IUDs), bilateral tubal ligation for women, or vasectomy for men.

Likewise, Vergeire revealed that there is a “decline” in pregnant women giving birth in hospitals for fear of contracting the disease. The DOH official, however, said that they will provide the exact figure as soon as they are finished with their report.

“But we are receiving reports from the hospital about this [pregnant women not giving birth in the hospital],” she said, adding that some women prefer birthing clinics.

She gave assurances that there were enough midwives in the country even before the pandemic. Claudeth Mocon-Ciriaco

papers, excluding the result of the tap facility auction on Tuesday, which has yet to be released, as of this writing.

For this month, the Treasury programmed to borrow a total of P170 billion from the local debt market.

After several postponements, the Treasury is finally set to hold its first and second “Premyo [prize] Bond” raffle draws simultaneously on June 18 wherein P2 million in cash and two house-and-lot units will be up for grabs.

For the first sale of the Premyo bonds last year, the government raised P4.961 billion, which was 65-percent higher than the initial size of P3 billion.

The issue size was increased

from the initial P3 million to P4.5 million because of the “remarkably strong demand from the investing public” during the three weeks these were offered from November 25 to December 13.

The prize bond float received wide participation among small savers and overseas Filipino workers, with its offer of cash and other rewards on top of income from a safe investment.

For a minimum investment of only P500, those who participated in “Premyo Bonds” now have a chance to win cash and non-cash rewards, in the form of condo units and a house and lot, Treasury documents said.

Anti-terror bill under Palace, DOJ review Continued from A8

Reservations

THE bill was approved last week following the urgent certification of the Palace.

“Their reservations as to constitutional grounds, the bill’s grave implications to human rights and it being subjected to abuse are clearly valid. We should not allow our country to become a police state with a junta-like formation lording it over. Human rights and civil liberties may become a thing of the past if this bill is enacted,” said Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate.

“We see now that more and more House members are withdrawing or clarifying their votes like Rep. Ruffy Biazon, Rep. Joey Salceda, Rep. Julienne Baronda, Rep. Michael Gorriceta and Rep. Sol Aragones,” he said.

The bill clearly defines the crime of terrorism in order to make the law more responsive to the threats of terrorism that constantly evolve in the fast-

changing environment, according to its main advocates. Sotto earlier stressed that the bill’s definition is based on the United Nations definition of terrorism.

It also strengthens the ability of law-enforcement agencies to surveil and prevent acts of terrorism and to prosecute those who commit these acts.

It stipulates that legitimate exercises of the freedom of expression and to peaceably assemble, where a person does not have the intention to use or urge of force or violence or cause harm to others, are not covered by the proposal.

The bill introduced provisions imposing life imprisonment without parole on those who will participate in the planning, training, preparation and facilitation of a terrorist act; possess objects connected with the preparation for the commission of terrorism; or collect or make documents connected with the preparation of terrorism. With Samuel Medenilla

‘GNI tweaks, pandemic stalled march to UMIC’ Continued from A1

Qian said the revision of the per capita Gross National Income (GNI), which is used in determining the classification of a country, affected the country’s chances of becoming a UMIC sooner.

The Philippines has been classified as a lower middle-income country by the World Bank with a per capita GNI of $1,026 to $3,995.

The country has been classified as a lower middle-income country for over 30 years.

Under the revised estimates, the country’s per capita GNI declined to P191,997.774 using current prices from the P206,104 using current prices in the 2000-based NIA.

Further, the Net Primary Income, used to determine GNI, contracted 47.6 percent to P1.94 trillion using 2018 prices from P3.7 trillion using 2000 constant prices.

OFW income

PHILIPPINE Statistics Authority (PSA) Assistant National Statistician Vivian R. Ilarina told the BusinessMirror that the revision was due to the exclusion of the income earned by overseas Filipino workers (OFWs) after one year to avoid overlapping with global estimates.

In the previous rebasing and revising of the NIA, Ilarina said the PSA only excluded OFWs’ incomes after two years of working abroad.

“We already adopted the latest SNA [System of National Account] guideline [of] one year residency.

This means those Filipinos out of the country [or those OFWs], you count them as residents of the Philippines within one year. After one year, they are now residents of other countries. [This needs to be done otherwise] there would be an overlap in the world economy,” Ilarina told this newspaper on Tuesday.

Ilarina also said revisions pertaining to property income and property expense also affected the computation of the GNI. She added the changes were also accompanied by revisions in compensation outflow, of which data was not available in previous NIA revisions.

Pandemic factor

MEANWHILE, apart from the rebased and revised NIA, Qian also said the current pandemic will delay the country’s efforts to move toward becoming a UMIC.

The World Bank estimates GDP growth to contract 1.9 percent this year before rebounding to 6.2 percent next year. In 2022, the World Bank estimates growth will be 7.2 percent.

Qian said the GDP growth is expected to post its deepest contraction in the second quarter. The third quarter is still expected to see the economy contract, while the last quarter of the year may indicate “muted recovery.”

In terms of poverty, Qian said the World Bank’s earlier estimates showed the pandemic is expected to lead to a 3.3-percentage point increase in poverty.

However, she said, this assumed that the economy stood still for two months and no subsidies like the Social Amelioration Program (SAP) was distributed to vulnerable groups.

Nonetheless, Qian said, poverty is expected to increase this year. The only difficult part is to determine the exact poverty incidence rate after the pandemic is over.

The forecast of the World Bank this year and in 2022 are more optimistic than the government’s outlook. Based on the Development Budget Coordinating Committee (DBCC), growth is expected to contract 2 percent to 3.4 percent this year and post a growth of 6 percent to 7 percent in 2022.

The bank is less pessimistic than the government when it comes to the growth estimate for

2021 at 6.2 percent while the government targets a growth of 8 percent to 9 percent next year.

“The growth prospect is expected to improve in the succeeding years as the economy gradually recovers from the Covid pandemic driven by a restart of public investment, a rebound in consumption as incomes recover, global recovery, and the base effect of 2020,” Qian said in a presentation.

Recovery

QIAN said the Philippines’ strong macroeconomic fundamentals puts it in a good position to further secure loans to finance its deficit spending.

She said the Philippines remains one of the countries with a low public external debt. Based on government estimates, the country’s total public debt is just below 40 percent of GDP. Qian said should total public debt reach 50 percent of GDP, this would still be a “good number” and will still afford the country some space to secure loans.

“The government could borrow more but this is subject to their own legislation,” Qian said. “[We have to remember that] this is a once-in-a-lifetime pandemic, an unexpected event.”

Qian stressed that apart from financing a stimulus package, it is also important to look at the components of the stimulus package.

She said ensuring that the stimulus package finances areas of the economy that are vital to the recovery is crucial. One of these areas should be infrastructure, particularly broadband facilities.

The “new normal” will soon become “normal” and this means more

work from home arrangements and distance learning. Qian said these will require stable and affordable broadband connections.

She said high-speed fixed and mobile broadband penetration in the Philippines is the lowest among the major economies of the Asean and China at a little over 10 percent.

China, meanwhile, has a little over 90 percent followed by Vietnam which is over 50 percent and Thailand at over 40 percent penetration.

Qian said critical reforms need to be advanced to boost private sector confidence such as the amendment of the Public Services Act that would allow foreigners to invest in country’s telecom sector.

“In the Philippines, Covid-19 has accelerated the adoption and use of digital technologies. However, digitalization is largely constrained by the country’s low highspeed broadband penetration, which lags behind neighboring countries,” Qian said.

“In addition, the digital divide in the Philippines is large with nearly 60 percent of households not having access to Internet, and unable to reap the benefits of digitalization,” she added.

Apart from this, Qian said the government must strengthen the capacity of the healthcare system as well as finance potential growth areas that would lead to sustainable growth and resilience to the ill effects of climate change.

She added that in the short term, the government can expand social safety nets to protect vulnerable families. This will be crucial in protecting the gains in poverty reduction.

Manila…

Continued from A1

Other cities in the top 10 costliest cities for expatriates are Zurich (4), New York (6), Bern (8) and Geneva (9).

The survey saw a dip in rankings across Chinese cities due to the currency depreciation against the US dollar. The most notable drop was for Shenyang, down 18 places from last year, ranking at 63.

Currency appreciation and price increases for goods and services saw Southeast Asian cities like Manila and Jakarta climb in rankings this year.

Manila (80) is up 29 spots from last year, while Jakarta (86) climbed 19 places. Mumbai (60) is India’s most expensive city, while Kolkata (185) is the least expensive Indian city ranked.

Covid-19

THE company said the Covid-19 pandemic has spurred organizations to reassess their global mobility programs with a focus on the well-being of their expatriate employees.

“As they leverage new working arrangements, changing technology and adaptive ways of thinking, organizations are considering alternate forms of international assignments in addition to traditional mobility programs to sustain their overseas operations and workforces,” Mercer said.

“Reductions in staff and salaries as well as changes to benefit programs have challenged overseas expansion strategies, despite an appetite to grow and scale globally while navigating the uncharted waters of a health and economic crisis,” it added.

According to Mercer, as organizations re-examine talent portfolios, mobility programs and remuneration packages, accurate and transparent data is essential to compensate fairly for all types of mobility assignments, taking into account changes resulting from the current pandemic and subsequent market volatility.

Due to the timing of the Covid-19 outbreak, Mercer said it conducted further analysis on availability of goods in April and May to verify pricing.

Mercer’s survey uses New York City as the base city for all comparisons and currency movements are measured against the greenback. The survey includes over 400 cities throughout the world; this year’s ranking includes 209 cities across five continents.

Specific factors

MERCER’S survey finds that specific factors such as currency fluctuations, cost inflation for goods and services, and instability of accommodation prices are essential to determining the cost of expatriate packages for employees on international assignments.

“The Covid-19 pandemic reminds us that sending and keeping employees on international assignments is a huge responsibility and a difficult task to manage,” Ilya Bonic, career president and head of Mercer strategy, was quoted in the statement as saying.

“Rather than bet on a dramatic resurgence of mobility, organizations should prepare for the redeployment of their mobile workforces, leading with empathy and understanding that not all expatriates will be ready or willing to go abroad,” Bonic added.

In the short term, preparation for this new approach to global mobility may involve re-relocating assignees who have been repatriated. In the medium term, the priority will be about realigning the mobile workforce with new economic models centered on shortened supply chains, more regional moves and a renewed need to train talent.

Greater, smaller

IN addition to these concerns, relevant information about the cost and location of assignments worldwide will be a critical factor post-crisis.

“Border closings, flight interruptions, mandatory confinements and other short-term disruptions have affected not only the cost of goods and services, but also the quality of living of assignees,” Bonic said. “Climate change, issues related to environmental footprint, and health system challenges have pushed multinationals to consider how a city’s efforts around sustainability can impact the living conditions for their expatriate workers. Cities with a strong sustainability focus can greatly improve living standards, which can in turn improve employee well-being and engagement.”

Properly vetting locations and compensating employees on international assignments is as important as it can be costly. Mercer’s survey shows that costs of goods and services shift with inflation and currency volatility, making overseas assignment costs sometimes greater and sometimes smaller.

“Sudden changes to exchange rates have been mainly driven by the impact Covid-19 is having on the global economy,” Yvonne Traber, global mobility product solutions leader at Mercer, was quoted in the statement as saying. “This volatility can affect mobile employees in a variety of ways, from shortages and price adjustments for goods and services, to supply chain disruptions or when employees are paid in home country currency and need to exchange funds into the host country for local purchases.”

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Law enforcers told: Hunt down purveyors of fake news, dubious social-media accounts

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HE Department of Justice (DOJ) and the National Bureau of Investigation (NBI) were asked to deploy crack probers to track down purveyors of “fake news” and dubious dummy accounts proliferating in social media, including Facebook.

This as Sen. Christopher Lawrence “Bong” Go on Tuesday advised the public to use social media responsibly even as he denounced the “spate of misinformation” infesting social media, following Facebook’s confirmation that operators of popular social-media platform were also investigating reports of suspicious activity ensuing from the proliferation of Facebook “dummy accounts.”

Asserting that Facebook and other social-media platforms should be “a safe place for everyone to converse and exchange views,” Go stressed that “we should not tolerate those who use it to mislead people, spread fake news, conduct anomalous activities and take advantage of the vulnerabilities of fellow Filipinos, especially in times of crisis.”

In a news statement, the senator vowed to make sure the perpetrators of fake news will be made to answer for their illegal acts, saying: “Mapaparusahan ang mga nagkakalat ng fake news dahil sa paglabag ng batas.

Sisiguraduhin namin na mapanagot kayo sa mga kalokohang ginagawa ninyo,” he warned.

Go affirmed full support for the three-pronged probe being mounted by the DOJ in coordination with the NBI and the Philippine National Police (PNP) to crack down cases involving cybercrimes.

“Lalo na ngayon na may hinaharap tayong krisis, dapat maparusahan ang mga gumagawa ng kalokohan tulad ng maraming nagsisilabasang mga walang katapusang fake news,” Go said.

This developed as Presidential Communications Operations Office Secretary Martin Andanar confirmed that Malacañanag has already directed concerned government agencies, like the NBI and the PNP Anti-Cybercrime Group to look into the matter.

At the same time, Andanar affirmed the National Privacy Commission was already “in touch with Facebook to conduct an investigation and share significant findings with the agency.”

“We ask the public to do their part and be conscientious and vigilant.

Please report fake accounts and do not fall prey to unsubstantiated posts from unverified accounts.

Our office continues its programs, such as Dismiss Disinformation and Youth for Truth, meant to quell fake news and combat misleading information,” Andanar added.

“We urge everyone to be responsible social-media users and warn those who commit malicious acts of

fake accounts and fake news creation that you can be made accountable for your actions, as such actions are prohibited and punishable under the Cybercrime Prevention Act.” Early this week, Defense Secretary Delfin N. Lorenzana likewise confirmed the Department of National Defense has also “reached out to Facebook on the matter,” adding that it involved “a cause for concern” as it “creates discordant voices among the people which should not be there.”

For his part Go warned those responsible for anomalous activities using social media that the Duterte administration shall not tolerate such acts and they will be prosecuted in accordance with the law.

“Lahat po tayo nagiging biktima ng fake news. Hindi ko maisipisip na sa kabila ng kinakaharap natin ngayon, napag-isipan pa ng ilang mga tao na magpakalat ng mga malisyosong kasinungalingan o manlinlang ng kapwa nila Pilipinong naghihirap rin,” he added.

Go appealed to the public to “make use of social media to help fellow Filipinos instead of wasting their time to cause misinformation, especially in this time of crisis. Gamitin n’yo nalang sana ang oras ninyo para tumulong at magmalasakit. Huwag ninyo sayangin sa pagkalat ng kasinungalingan o sa panloloko ng mga tao. Huwag kayo gumawa ng problema at dumagdag sa pasakit ng bayan,” said Go. Go also advised that “while criticisms are welcome and are part of the exercise of democracy, Filipinos must make an effort to verify information they encounter and take part in creating a wellinformed citizenry.”

The senator stressed that social media should be a platform where freedom of speech can be exercised as part of a democratic society. “But let us do this in a responsible manner. Welcome ang mga bumabatikos na magbigay ng kanilang rekomendasyon sa paraan kung saan pwede lahat maging parte ng solusyon at hindi dumagdag sa problema,” he said.

Moving to intensify the government’s drive against misinformation and scams in times of crisis, Go recently filed Senate Bill 1528 to amend Republic Act 11332, also known as the “Mandatory Reporting of Notifiable Diseases and Health Events of Public Health Concern Act. He said that apart from strengthening the country’s efforts in disease surveillance and epidemiologic investigation, the remedial legislation seeks to “hold liable those who are involved in prohibited acts during a health crisis, such as taking advantage of the situation to prey on the public through scams, phishing, fraudulent e-mails, or other similar illegal acts.”

Butch Fernandez

BI authorities flag down wanted Korean at Naia 1

By Recto Mercene @rectomercene

A

SOUTH Korean fugitive wanted for illegal gambling by authorities in Seoul was flagged down by airport immigration authorities prior to boarding.

In a report to Immigration Commissioner Jaime Morente, Bureau of Immigration (BI) port operations acting chief Grifton Medina identified the passenger as An Byeonghyeon, 27, who was intercepted last Friday at the immigration departure area of the Ninoy Aquino International Airport Terminal 1.

“He was being processed at our counter when BI inspector discovered that he is in the Interpol’s list of wanted fugitives,” Medina said.

He was also traveling with a stolen travel document.

Medina said the Korean was eventually allowed to board his Aseana Airlines flight after immigration officials

informed their counterparts in Seoul about his impending arrival there.

“An was arrested upon his arrival at the Incheon airport by policemen waiting for him,” Medina said.

Information obtained from the Interpol unit revealed that An conspired with other Korean suspects by operating an illegal online gaming web site called “Syrub, Milk, Butter, Sugar” from 2017 up to March this year.

The suspects allegedly conducted their operation from an office in Manila from which they solicited gambling money from Korean customers who placed bets on the results of sports competitions.

A warrant for An’s arrest was issued by the Busan district court last March 7 leading the Interpol to place him on its red notice list.

He was charged with violating Korea’s national sports promotion act and he could be sentenced to maximum jail term of 10 years if convicted.

Editor: Vittorio V. Vitug • Wednesday, June 10, 2020 A3

DND chief launches beaching ramp in first major infra upgrade in WPS

By Rene Acosta @reneacostaBM

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FTER years of delay, the contractor of the beaching ramp, or harbor, in Pagasa, part of the military’s four phase basing support in the Spratlys, turned over the completed project to the government on Tuesday.

The project, which Defense Secretary Delfin N. Lorenzana said would spur the island’s development, was turned over by contractor Luzviminda Engineering Construction to officials led by the defense chief himself.

Lorenzana flew to Pagasa and led the harbor’s inauguration also on the same day noted the extended period that Luzviminda took to finish the project.

Luzviminda was given the “notice to proceed” on the project in 2017 that was supposed to have been completed a year later. The delay may have also stalled the development of the island.

The beaching ramp, along with the repair of the Rancudo Airfield, according to Lorenzana, was allocated with a P1.8-billion budget in 2017.

Lorenzana said the construction of the ramp was a major achievement of the administration as it provides both security and development in “every corner of the archipelago.” It was also the first major infrastructure project that have been completed in the disputed area.

“It will hasten the delivery of basic services,” he said.

The defense secretary said the

development of the island, which was occupied by the country in the 1970s and followed by the creation of the Municipality of Kalayaan, had been much delayed.

He noted that the country’s neighbors have carried on a nonstop development and improvement in the islands and features that they occupied in the WPS. China, for one, has occupied features and reclaimed islands in the WPS that it turned into massive military fortresses.

Lorenzana said the completion of the beaching ramp will allow the government to bring in materials needed in the repair of the airfield, which is the phase 2 of the four-part basing project in Spratlys.

It would also ensure the steady and easier delivery of goods and even services to the small population of the island, whose ownership China is also disputing.

“When you bring in equipment here or anything, food or whatever, you have to anchor about 100 or 500 meters away and then transfer the goods into a small boat to be brought here,” Lorenzana said.

“So it’s very tedious and very expensive, and [we] can only do that during calm weather like now,” he added.

The defense chief said that since Pagasa already has its harbor, the government could already jumpstart the improvement of the island by putting in infrastructure needed for the delivery of services.

“We can go full blast already,” he said.

Among the projects seen in Pagasa, according to Lorenzana

Wildlife trader charged over P20K offer to sell a pair of ‘lawin’ birds

By Jonathan L. Mayuga @jonlmayuga

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45-YEAR-OLD wildlife trader was arrested by authorities during an entrapment operation in Sampaloc, Manila.

Lt. Col. John K Guiagui, station commander of the Sampaloc police station identified the suspect as Sharon Jon Jon Lim, a resident of Sta. Mesa, Manila. A case of violation of Republic Act 9147 was filed against him before the Manila Prosecutor’s Office on Monday.

Lim was arrested around 4:30 p.m. on June 6 along Geronimo Street in front of Trinidad Tecson Elementary School in Barangay 432, Zone 44, Sampaloc, Manila, during a buy-bust operation initiated by the Sampaloc police in coordination with the Department of Environment and Natural Resources-Biodiversity Management Bureau (DENR-BMB).

He is now facing charges for violation of Republic Act 9147, or the Wildlife Act, for trading endangered species. Illegal wildlife trade is a major driver of biodiversity loss, which is the fourth-largest transnational crime after drugs, arms and human trafficking. In the Philippines, illegal wildlife trade is a P50-billion industry.

The suspect was supposed to sell for P20,000 two brahminy kites, or P10,000 per bird, to a policeman who posed as buyer of the endangered birds. Brahminy kite, known locally as lawin, is a popular exotic pet among hobbyists.

Following his arrest, the police and DENR wildlife law enforcers led by Steven Toledo and Rogelio Demelletes conducted a followup operation at the suspect’s residence wherein a white-breasted sea eagle and an hawk-eagle were

eventually rescued.

The brahminy kites, along with the sea eagle and hawk-eagle were turned-over to the DENR-BMB. Lim, a recidivist wildlife trader according to Demelletes, has been in the radar of the DENR-BMB for years.

“We’ve been hunting him for five years. Finally, we got him this time,” Demelletes said.

Lim, according to Demelletes, discreetly buys and sells endangered species, mostly rare birds of prey.

were the improvement of the soldiers’ barracks and even the houses of civilians in the island and the construction of schools.

It also include energizing the island and other development projects.

“We will improve this. We’ll put money here,” Lorenzana said.

A4 Wednesday, June 10, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Government may tap PUJ drivers for delivery services

By Samuel P. Medenilla @sam_medenilla

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HE government is now considering to tap public-utility jeepney (PUJ) drivers, unemployed for over two months now, to provide delivery services.

In an online news briefing on Tuesday, Presidential spokesman Harry Roque said the Department of Transportation (DOTr) is now

studying the proposal to provide alternative livelihood for the jeepney drivers.

Currently, PUJs are still not allowed to operate by DOTr due to concerns that social distancing for passengers will not be implemented when boarding the said mode of public transportation.

There is a growing concern among PUJ drivers, where they will get their income in the coming months since

they will soon be receiving their last cashaidundertheDepartmentofSocial Welfare and Development’s (DSWD) Social Amelioration Program (SAP).

Under the P200-billion SAP, 18 million poor families were supposed to be given cash aid by DSWD for two months.

Second tranche

ON Tuesday, DSWD Undersecretary Rene Paje said they will finally

Lawmaker airs MSMEs’ plea for more govt aid

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OLLOWING the easing of the enhanced community quarantine (ECQ), a lawmaker has called for an immediate government intervention to help micro, small and medium enterprises (MSMEs) restart their businesses.

Ang Probinsyano Rep. Alfred C. de los Santos said the Department of Trade and Industry (DTI) should amend Memorandum Circular 2012 to ease the burden of small business owners following the lockdown.

The circular provides a 30-day grace period on commercials rents of MSMEs that have ceased operations during the lockdown without incurring interest penalties, fees and other charges. It also calls for a repayment period spread in over six months.

Also, de los Santos is pushing for a substantial discount in rental obligation, or waive of rental fees for MSMEs to help them cope with their losses, pay their bills and keep their staff employed.

De los Santos added while some big businesses have been allowed to slowly reopen, most MSMEs, which account for 99 percent of the enterprises

operating across the country, find themselves in the “dark as to when they can resume operations and when help will come.”

The lawmaker also lauded DTI for allotting P1 billion in available loans for MSMEs at low interest rate to help them jump-start their businesses but expressed concern that some of them may have problems paying back the government.

“As the sector responsible for creating over 63 percent of the country’s total employment in 2018, it is hard to ignore their contribution to our economy. We cannot also ignore their pleas for help,” said de los Santos.

The lawmaker said close to 47 percent, or 467,581of the total MSMEs, in the country, were forced to close shop until now and may cease operations altogether later on due to cash flow woes after the lockdown in Luzon.

According to the Philippine Statistics Authority, MSMEs accounted for 37.8 percent of the gross domestic product and contributed 25 percent of the total exports revenues in 2017.

Jovee Marie N. dela Cruz

start the distribution of the second tranche of their SAP this week.

Paje said they will prioritize distribution to Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries.

The distribution was supposed to take place last month but audit procedures by the DSWD delayed the disbursement of funds of the first tranche of SAP. Roque said PUJ drivers will also be included in the second tranche

of the SAP. He reiterated that these drivers may be given a third tranche of SAP if there will be sufficient remaining SAP fund for it.

PUJ modernization program

AS part of the long-term intervention for them, unemployed drivers, Trade Secretary Ramon M. Lopez said, may consider availing of the modernization program of DOTr.

“There is a government program that will encourage them to acquire financing for [buying] the modern public-utility vehicles,” Lopez said.

He said this aims to encourage PUJ drivers to modernize their units.

PUJ groups have earlier slammed alleged attempts of DOTr of using the virus pandemic to force them to “modernize” their units at a time many of their members are now cashstrapped because of the health crisis.

Business council: PPP a viable option for infrastructure buildup during crisis

By Elijah Felice E. Rosales

@alyasjah

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OUTHEAST Asian (SEA) states, including the Philippines, should venture into public-private partnerships (PPPs) in meeting their infrastructure needs, especially in a time of crisis like this when public resources are much needed for social services, according to a report.

In a report by the European UnionAsean Business Council, economies in the region were told to increase private sector participation in infrastructure projects. In doing so, governments can free up a significant amount of their budget and redirect them to social services.

The report, titled “Bridging the Gap: Funding Sustainable Infrastructure in Asean,” tabled a list of recommendations that Southeast Asian states can look at to address their need for financing of public infrastructure.

Citing data from the A s i a n D e v e l o p m e nt Bank, the report said the region, w ith the exclusion of Singapore, Brunei Darussalam and Lao PDR, demands an average of $147 bi llion yearly for their infrastructure buildup.

Spending is estimated at $55 billion at pres-

ent; hence, there is a funding gap of at least $92 billion annually.

To resolve the cash crunch, the report called for, among others, the venture of Southeast Asian states into PPPs, a mechanism in which public and private resources are combined in order to complete projects that require hefty financing.

It argued PPPs can play a pivotal role in the development of infrastructure projects, especially when compared to traditional capital investments from the state, as PPPs mostly allocate risks to the partner private sector capable of managing them. Also, PPPs allow governments to tap on the innovative ability and managerial talent of the private sector.

Critical in the time of the coronavirus pandemic, which displaced millions of workers globally, PPPs unload some burden on the part of the government in terms of budget and management, capacitating it to reallocate spending to social services, the report added.

On the downside, the EU-Asean Business Council report explained that PPP projects can be difficult to process, as investors will require guarantees in several areas, such as state policy, changes to rules and regulations and contract duration. In these matters, governments should evaluate the longterm impact before making assurances to their partners.

At the end of the day, all parties involved—the state, the private sector and

the general public—should benefit from the PPP projects in consideration.

“Currently, the pipeline of approved investment-ready projects is in short supply to bridge the infrastructure gap,” the report said. “Projects can be prioritized, with the projects that can be designed to be investible with only private sector funding accelerated.”

It added the concept of PPPs is no longer new to Southeast Asian economies, as some have existing PPP offices like the Philippines and a growing list of finished PPP projects.

PPPs used to be the government’s preferred funding option in putting up public infrastructure. However, under President Duterte, PPPs were put on the side in favor of loans and grants from economic partners and multilateral institutions.

Likewise, the administration opted to roll out a fiscal reform program that included tax hikes on fuel, sugary drinks, automobile, and coal, among others, to raise money.

“However, such reforms will not be sufficient to plug the finance gap for infrastructure on their own, especially as not all increased revenues from such reforms would be channeled directly to infrastructure development. Competing needs will always exist,” the report argued.

The Duterte administration plans to spend as much as P9 trillion for the implementation of big ticket infrastructure projects listed under its “Build, Build, Build” program.

Study affirms Roro’s role as trade booster

By Cai U. Ordinario @caiordinario

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HE roll-on, roll-off terminal system (RRTS or Roro) would greatly increase trade between island provinces nationwide and boost the economy, according to a research released by the Asian Development Bank (ADB).

In the Working Paper “Over Land and Over Sea: Domestic Trade Frictions in the Philippines,” ADB Economic Research and Regional Cooperation Department Economics Officer Eugenia Go said areas where RRTS was in place had 52 percent higher trade between origin and destination.

The study also found that trade flows between RRTS province pairs were 36 percent to 42 percent higher on average compared to similar unconnected province pairs.

“Roll-on, roll-off terminal systems can increase inter-island trade and economic growth in archipelagic nations,” Go said in an Asian Development Blog published on Tuesday.

Go said that while Roros existed for decades, it was only in 2003 during the

term of President Gloria MacapagalArroyo when the RTS was instituted.

Back then, there were only 34 routes but with the increase in benefits, the network grew to 113 routes by 2014.

She explained that RRTS is a transport system that integrates land highways with sea routes through Roro ships.

Through the system, cargo vehicles can directly board Roro vessels with their cargoes and skip cargo handling.

Go said cargo handling is one of the most expensive and time-consuming processes in maritime trade.

Go said this transport system also makes direct deliveries to institutional buyers possible, which implies savings on inventory costs.

The study found that a typical province would trade with itself 28 times to as much as 53 times than with other provinces. This is reduced by a factor of 0.65 when a province adopts the RRTS. The study also found that agriculture products substantially benefited from the RRTS. Serviced port pairs trade 60 percent more types of agricultural products and transact these

56 percent more frequently compared to their non-Roro counterparts.

Further, 45 percent more types of products in the highest quartile of the value distribution are traded in Roro pairs, and these are transacted 65 percent more frequently.

“The greater frequency of transactions happens because Roro reduces the ratio of trade to inventory cost, making it cheaper to ship more frequently instead of stocking up on inventories,” Go said.

“This is a beneficial feature for products that are perishable in nature, and for high-value goods for which the opportunity cost of liquidity is high,” she added.

Go said being an archipelago, internal connectivity between the country’s 7,000 islands is a major challenge and has been the cause for high domestic maritime trade costs.

In the early 2000s, moving a 20-foot container equivalent from Davao City in the south of the country to Manila costs $1.50 per nautical mile compared to 50 cents when shipped from Hong Kong, China or Bangkok, Thailand.

Congress urged to prioritize passage of CREATE bill

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HE Financial Executives Institute of the Philippines (Finex) said that Congress should prioritize bills that could alleviate the Philippine economy currently in slump, amid the virus pandemic.

“We believe at this time; as we struggle to recover from the Covid-19 quarantines that the most urgent and important task we would ask

of Congress is to pass the laws that will help business to recover, and attract the attention of new investors so we can put the 2 million or so unemployed Filipinos back into a job,” the business group said.

Their statement comes after government data reveals the economy contracted by 0.2 percent in the first quarter, the first time since 1998. According to the Philippine Statistics

Authority (PSA), at least 5 million Filipinos lost their jobs due to the imposed lockdown in several parts of the country in April. This translates to 17.7-percent surge in unemployment year-on-year.

The business group is urging lawmakers to pass “right away” the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE).

Tyrone Jasper C. Pad

www.businessmirror.com.ph • Editor: Angel R. Calso

The World

Global leaders will not gather at UN for first time in 75 years

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NITED NATIONS—The president of the UN General Assembly said on Monday that world leaders will not be coming to New York for their annual gathering in late September for the first time in the 75-year history of the United Nations because of the Covid-19 pandemic.

But Tijjani Muhammad-Bande told a news conference that he hopes to announce in the next two weeks how the 193 heads of state and government will give their speeches on pressing local and world issues during the assembly’s so-called General Debate.

“World leaders cannot come to New York because they cannot come simply as individuals,” he said. “A president doesn’t travel alone, leaders don’t travel alone” and “it is impossible” to bring large delegations to New York during the pandemic.

“We cannot have them in person as we used to—what happened in the last 74 years—but it will happen,” Muhammad-Bande said of the annual event.

Secretar y- Genera l A ntonio Guterres recommended last month that the gathering of world leaders, which was supposed to celebrate the 75th anniversary of the United Nations, be dramatically scaled back because of the pandemic.

Guterres suggested in a letter to the General Assembly president

that heads of state and government deliver prerecorded messages instead, with only one New York-based diplomat from each of the 193 UN member nations present in the assembly hall.

Muhammad-Bande said Monday that by late September “maybe a hundred or so” people might be allowed in the General Assembly chamber.

The meeting of world leaders usually brings thousands of government officials, diplomats and civil society representatives to New York for over a week of speeches, dinners, receptions, one-on-one meetings and hundreds of side events.

This year was expected to bring an especially large number of leaders to UN headquarters to celebrate the founding of the United Nations in 1945 on the ashes of World War II. Muhammad-Bande said the 75th anniversary celebration “is not conceived as one moment” but will continue throughout the year starting on June 26, the 75th anniversary of the signing of the Charter of the United Nations in San Francisco.

He said a political declaration on the United Nations at 75 is also being negotiated, and world leaders will have the opportunity to mark the occasion—only not in person. AP

North Korea says it will cut off all communication channels with South

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EOUL, South Korea—North Korea said it will cut off all communication channels with South Korea at noon on Tuesday as it escalates its pressure on the South for failing to stop activists from floating anti-Pyongyang leaflets across their tense border.

South Korea’s liberal government, which espouses greater ties with North Korea, repeated that it will work toward restoring peace on the Korean Peninsula in its response to the warning.

Relations between the Koreas have been strained during a prolonged deadlock in broader nuclear diplomacy between Pyongyang and Washington. Some experts say North Korea may be deliberately creating tensions to bolster internal unity or launch a bigger provocation in the face of persistent US-led sanctions.

The North’s Korean Central News Agency said all cross-border communication lines will be cut off in “the first step of the determination to completely shut down all contact means with South Korea and get rid of unnecessary things.”

It said the decision was made by Kim Yo Jong, the powerful sister of leader Kim Jong Un, and Kim Yong Chol, a former hardline military intelligence chief who Seoul believes was behind two 2010 attacks that killed 50 South Koreans.

“The South Korean authorities connived at the hostile acts against [North Korea] by the riff-raff, while trying to dodge heavy responsibility with nasty excuses,” KCNA said. “They should be forced to pay dearly for this.”

South Korean conservative activists, including North Korean defectors living in the South, for years have floated huge balloons into North Korea that carry leaflets criticizing Kim Jong Un over his nuclear ambitions and abysmal human rights record. The leafleting has long been a source of tensions between the Koreas since the North bristles at any attempt to undermine the Kim leadership.

Last week, Kim Yo Jong called the defectors “human scum” and “mongrel dogs” as the North also threatened to permanently shut down a liaison office and a jointly run factory park, as well as nullify a 2018 inter-Korean military agreement that had aimed to reduce tensions.

North Korean citizens have also participated recently in a series of mass rallies opposing the Seoul government, activities the North typically organizes in times of tensions with the outside world.

South Korea’s Unification Ministry, which handles relations with North Korea, said crossborder hotlines must be maintained, as they are the basic means of communication between the two Koreas. It said the South Korean government will strive to promote peace while abiding by inter-Korean agreements.

Defense Ministry spokesman Choi Hyun-soo told reporters the South Korean military was

monitoring the situation but didn’t say how the South plans to communicate with the North if there’s need to quickly defuse tensions.

The South Korean government has recently said it would push for legal bans on launching leaflets, but the North has said the South Korean response lacks sincerity.

South Korean conservatives have urged their government to get tougher on North Korea and uphold their constitutional rights to free speech.

South Korea has typically let activists launch such balloons but has halted some attempts when North Korean warnings appeared to be serious. In 2014, North Korean troops opened fire at propaganda balloons flying toward their territory, triggering an exchange of fire that caused no known causalities.

The two Koreas have several phone and faxlike hotline channels across the border as they bar ordinary citizens from exchange telephone calls, letters and e-mails. Among them is a hotline between Kim Jong Un and South Korean President Moon Jae-in, which was established after their summit in 2018 but has never been publicly used by the leaders.

Officials from the two Koreas usually exchange brief messages twice a day via lower-level channels to check whether they work normally, even if there are no major issues between their governments.

When South Korean officials contacted North Korea via at least four channels on Tuesday morning, North Korea didn’t respond, according to the South Korean government.

It’s not the first time North Korea threatened to cut the channels. In previous cases, North Korea didn’t reply to South Korean phone calls or fax messages for an extended period before it later restored those communication channels when animosities eased.

North Korea has suspended virtually all cooperation with South Korea as its nuclear negotiations with the United States remains stalemated since the breakdown of a summit between Kim Jong Un and President Donald Trump in early 2019. A main sticking point in the US-North Korea diplomacy is a US refusal to lift much of the crippling sanctions on North Korea in return for limited denuclearization steps.

North Korea has slammed South Korea for failing to break away from Washington and for not restoring massive joint economic projects held up

by US-led sanctions.

Kim Jong Un has recently stressed the need to bolster his domestic strengths to withstand the sanctions. But many experts say North Korea’s already weak economy must have deteriorated further when the coronavirus pandemic forced it to shut its border with China, the North’s biggest trading partner and aid benefactor. AP

BusinessMirror

Wednesday, June 10, 2020

A5

World Bank: World will suffer largest downturn since 1940s

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ASHINGTON—The World Bank said on Monday the world is facing an unprecedented health and economic crisis that has spread with astonishing speed and will result in the largest shock the global economy has witnessed in more than seven decades.

Millions of people are expected to be pushed into extreme poverty.

In an updated “Global Economic Prospects,” the World Bank projected that global economic activity will shrink by 5.2 percent this year, the deepest recession since a 13.8 percent global contraction in 1945-1946 at the end of World War II. The 5.2 percent downturn this year will be the fourth worst global downturn over the past 150 years,

exceeded only by the Great Depression of the 1930s and the periods after World War I and World War II when many the economies of many war-torn countries were devastated and the United States and other nations demobilized after massive defense buildups.

Because of the steep contraction, the amount of income per person is expected to fall sharply, with

more than 90 percent of emerging market and developing countries seeing per capita incomes declining. For all countries, the drop in per capital incomes is expected to average 6.2 percent, much larger than the 2.9 percent fall during the 2009 financial recession.

Ref lect i ng t h is dow nwa rd pressure on incomes, World Bank economists said they expected the number of people in extreme poverty could grow by between 70 million and 100 million this year.

The 5.2 percent estimate for a decline in global output is 7.7 percentage-points more severe than the World Bank’s January estimate that the world economy would grow by a modest 2.5 percent this year.

For the United States, the updated World Bank forecast is for GDP to fall 7 percent this year, before growing 3.9 percent in 2021.

That estimate is similar to top forecasters for the National Association for Business Economics who forecast a 5.9 percent drop for the US this year.

The International Monetary Fund in April projected a drop in global output of 3 percent this year but it is expected that figure will be lowered when the IMF releases its forecast update in coming weeks.

For China, the world’s second largest economy, the World Bank forecast growth will slow this year to a barely discernible 1 percent but rebound to 6.9 percent in 2021.

For the 19 European countries that use the euro currency, the World Bank projected a drop of 9.1 percent this year followed by growth of 4 percent next year.

World Bank economists cautioned that their forecast was based on an assumption that the worst of the coronavirus outbreak was coming to an end and economies would pick up fairly quickly once governments begin to reopen.

If there is a second wave of the virus that disrupts economic activity later this year, then growth this year will fall even farther and the rebound next year will be weaker, the World Bank analysts said. AP

Germany: US troop pullout could harm NATO security

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ERLIN—Germany’s defense minister said on Monday that US President Donald Trump’s reported plans to withdraw more than a quarter of American troops out of Germany could weaken not only the NATO alliance but also the US itself.

Trump is said to have signed off on a plan to reduce the total of troops stationed in Germany from 34,500 to no more than 25,000, according to reports by The Washington Post and The Wall Street Journal, but German Defense Minister Annegret KrampKarrenbauer told reporters that Berlin hasn’t yet been informed of any such move.

A White House official, speaking on condition of anonymity to discuss internal matters, confirmed to The Associated Press that there are plans to move troops, saying some could go to Poland while others could go elsewhere.

The decision is part of the president’s and Department of Defense efforts to review combatant commands around the globe, the official said.

If the US goes ahead, KrampKarrenbauer suggested the move would do more harm to NATO as a whole than to Germany’s own defense.

“The fact is that the presence of US soldiers in Germany serves the entire NATO alliance security, including America’s own security,” she said. “That is the basis on which we work together.”

In Brussels, NATO SecretaryGeneral Jens Stoltenberg sidestepped a question on the deci-

In this December 27, 2018 file photo, President Donald J. Trump (center right), and first lady Melania Trump (center left), greet members of the military at Ramstein Air Base, Germany.

Germany’s Defense Minister Annegret Kramp-Karrenbauer is warning that US President Donald J. Trump’s reported plans to withdraw more than a quarter of the American troops out of Germany could weaken not only the NATO alliance but also the US itself. AP/Andrew Harnik

sion, saying that in general “over the last few years we have actually seen an increase in the US presence” in Europe.

“What I can say is that we are constantly consulting with the United States, with other NATO allies on the military posture and presence in Europe,” he said.

The Trump administration has been urging Germany to spend more on its defense to meet the NATO goal of spending 2 percent of gross domestic product on defense, and American officials in the past had raised the possibility of moving troops out as a veiled threat.

As such, the government’s coordinator for trans-Atlantic relations, Peter Beyer, said if the plan is confirmed it wouldn’t be a surprise, but that it was irritating to first learn of the possibility through media reports.

“ The German-American relationship could be severely affected by such a decision of the US president,” Beyer told the dpa news agency.

“It’s not just about 9,500 soldiers, but also about their families, so about 20,000 Americans. This would break down trans-Atlantic bridges.”

The days are long gone when hundreds of thousands of American troops were stationed in Germany as a bulwark against the possibility of a Soviet invasion.

Today, the country is much more a hub for wider American military operations.

Facilities include Ramstein Air Base, critical for operations in the Middle East and Africa and headquarters to the US Air Forces in Europe and Africa; the Landstuhl Regional Medical Center, which

has saved the lives of countless Americans wounded in Iraq and Afghanistan; and the headquarters of both US European Command and US Africa Command in Stuttgart.

Germany is also home to the headquarters of US Army Europe in Wiesbaden, an F-16 fighter base in Spangdahlem, and the Grafenwoehr Training Area, the largest NATO training facility in Europe.

“If this is confirmed, you have to ask yourself what impact this will have on NATO and the security architecture in Europe,” Beyer said.

Germany has been increasing its defense spending and the issue of troops had lain dormant for many months.

It wasn’t immediately clear why it was being brought up again, but Trump’s decision came shortly after Chancellor Angela Merkel said that she wouldn’t attend a Group of Seven summit in person in the US if the president decided to go ahead with it.

Shortly after the chancellor’s announcement, Trump said he was postponing the summit.

German Foreign Minister Heiko Maas acknowledged over the weekend that current ties with Washington were “complicated.”

He voiced concerns in an interview with Bild newspaper that the US presidential election campaign could further polarize Washington and stoke populist politics. “ T hen co-ex istence w ithin the country doesn’t just become harder, it also fuels conflicts on the international level,” he was quoted as saying. “That’s the last thing we need.” AP

TSMC confident of replacing Huawei orders lost to US curbs

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aiwan Semiconductor Manufacturing Co. hopes to keep supplying Huawei Technologies Co. but is confident its other customers can replace any business lost because of tightening US curbs on China’s largest tech company.

TSMC, the main chipmaker to Apple Inc. and Huawei, is studying the latest restrictions on making chips for the Chinese company and is hopeful the issue will get resolved over time, Chairman Mark Liu told shareholders on Tuesday without elaborating.

Its other clients can step in to fill the gap should TSMC be compelled to stop doing business with Huawei, he added.

TSMC is experiencing one of its most turbulent years in memory with the coronavirus pandemic depressing the global economy and smartphone

demand that top clients Apple and Huawei depend on for growth. The company, which in April trimmed its 2020 sales outlook, also finds itself caught in the crossfire as the Trump administration ratchets up a campaign to contain China. Washington last month barred any chipmaker using American equipment from supplying the networking giant without US approval, effectively blocking Huawei’s access to semiconductor manufacturing and dealing a blow to TSMC’s business.

Shareholders “can rest assured that we will resolve these new restrictions one by one. We will find a solution to continue to grow and secure more profits for our shareholders,” Liu said at Tuesday’s annual general meeting. “If there are no more HiSilicon orders, our other customers will want to fill the gap in our capacity, market share, or

smartphone market share left by Huawei. How fast they can fill that gap depends.”

Washington’s curbs—a more precise strike against Huawei because it targets its secretive and cutting-edge HiSilicon semiconductor division— threaten to wreak havoc throughout the complex chip ecosystem that produces technology for consumers and companies globally.

As the world’s largest and most advanced maker of chips for other companies, TSMC plays a crucial role in the production of devices from smartphones and laptops to servers running the Internet. Huawei is TSMC’s largest customer after Apple and accounts for about 14 percent of the Taiwanese chipmaker’s sales, according to data compiled by Bloomberg.

The Taiwanese firm may now have to cut off Huawei unless it gets waivers from the Commerce Department.

But additional business from existing clients like Apple, Qualcomm Inc., MediaTek Inc. or Advanced Micro Devices Inc. could help offset a decline in orders.

For TSMC, it’s growing ever more difficult to remain neutral amid the growing tensions between the US and China. The company brands itself “everybody’s foundry,” effectively the Switzerland of the tech industry—something executives reiterated on Tuesday. It supplies not just Chinese customers like Huawei but also the American military, while relying on US producers of semiconductor-making equipment like Applied Materials Inc. and Lam Research Corp.

Bloomberg News

A6 Wednesday, June 10, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Technology boosts farmers’ yield, income

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ilipino farmers have always relied on middlemen and traders to deliver their produce to consumers. These same traders have also become their source of production capital, as well as farm inputs, such as seeds and fertilizer. According to an agriculture economist interviewed by this newspaper for its podcast, the stranglehold of traders on markets and as sources of inputs made it difficult for local planters to profit from the fruits of their labor.

The Covid-19 pandemic has ushered in changes in the agricultural supply chain and value chain that are now benefiting both Filipino planters and consumers. Measures to contain the spread of Covid-19, such as physical distancing, have paved the way for the use of platforms that allow both producers and consumers to meet. The increase in purchases via these platforms also brought more business to firms offering delivery services.

The Department of Agriculture said farmers were able to earn more than P5 billion by selling their produce directly to local government units and via the government’s marketing platforms (See, “Farmers earn billions via direct-selling scheme,” in the BusinessMirror, June 8, 2020). The online store is one component of the DA’s marketing program, which has enabled consumers to access fresh fruits and vegetables while Luzon was under a more stringent enhanced community quarantine. These farm products are crucial during this pandemic, as health experts have recommended the consumption of more nutritious food to help our body fight the virus that causes Covid-19.

Pending the discovery of a vaccine and due to the need to prevent a second wave of infections, Filipinos are expected to continue observing physical distancing and to limit their forays outside their homes.

Given this development, there must be no let up in government’s efforts to expand the use of online platforms and to find other ways to deliver food to consumers without increasing the risk of infection for both buyers and sellers. Now is also the best time to step up initiatives that will allow farmers to tap technology so they can improve their productivity and income.

As more Filipinos turn to technology for their needs, government must ensure that the necessary digital infrastructure is in place. Farflung areas in the country still do not have access to the Internet, and they continue to get their information from traditional media, such as radio and television. This pandemic has given us a glimpse of what technology can do for farmers, and it can do much more if policymakers are willing to make the hard decisions and investments that will allow technology to unlock the farm sector’s potential.

This pandemic has also shown us the folly of failing to prioritize food production and the agriculture sector. Policy-makers must now stop paying lip service to the development of the sector and to start funding necessary projects that will boost the availability of food, including mechanization, the construction of more farm-to-market roads, cold chain facilities and silos. The improvement in farmers’ productivity will amount to nothing if they cannot reach markets because of bad roads and if their produce will be allowed to rot because they do not have the requisite post-harvest facilities.

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The power of social media and the SSS Facebook page Aurora C. Ignacio

All About Social Security

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wo weeks ago, President Duterte announced that the National Capital Region (NCR); Regions 1, 2, 3, 4A; provinces of Albay, Pangasinan, and the city of Davao were already placed under general community quarantine (GCQ). Meanwhile, selected regions were still under modified general community quarantine (MGCQ). Regardless of the level of restrictions being imposed in different regions of the country, the fact remains that Covid-19 cases continue to spread and the public should take the necessary precautions to combat this “invisible killer.”

While the community quarantine halted most peoples’ livelihood activities, it also paved the way for individuals and various organizations to creatively deal with the crisis brought about by the pandemic. Communities were able to explore the myriad opportunities available on social media and the Internet. In the field of entertainment, online concerts and musical plays were organized by groups through live-streaming at YouTube to solicit donations for displaced workers. People also turned to Facebook to connect with their family, friends, and relatives as physical get-togethers and reunions were strictly prohibited. Zoom was also maximized for online meetings, media interviews, trainings, and conferences for more productive work from home outputs. Students and teachers worldwide also used online applications such as Dropbox and Edmodo to complement distance learning.

Meanwhile, businessmen took the opportunity to prioritize the safety of their clients through online food delivery with the help of Grab, foodpanda and Lalamove.

Local government units (LGUs), national government agencies (NGAs), and private entities launched online groceries and mobile palengkes where individuals under lockdown can buy fresh fruits, vegetables, and other food items online, and receive their goods right at their doorstep to avoid long queues and big crowds in supermarkets.

In these difficult times, the public also expects the government to cope and adapt with the new normal.

The SSS, being an institution that promotes transparency and good governance, recognizes that a sound government is capable of adapting to a new world rapidly “changed” by the pandemic. A logical step toward this is to take advantage of new forms of online and social marketing strategies.

Having the welfare of our members and other stakeholders in mind, the SSS has always been keen in devising ways to deliver valuable messages to a wider populace. One facet of the SSS Covid-19 Relief Program is allowing members to maximize the use of our various online facilities to communicate, participate, and engage despite the temporary suspension of SSS offices during the enhanced community quarantine (ECQ) in Luzon.

Indeed, the SSS Facebook, Instagram and Twitter accounts have been effective tools in our efforts to communicate and get in touch with members. Advisories and announcements were posted in the form of art cards, which are easy to promote and share. These art cards then keep the members updated with contribution payment deadlines and the enhanced procedures on the filing of benefit claims, among others.

The comment section also invites the audience to provide their insights and feedbacks on the published content. This allows the SSS to improve responsiveness on our end and engagement among the audience. We are happy to note that our SSS Facebook Page has already reached 2.78 million followers, 13,000 followers for our Instagram, and 18,700 Twitter followers.

SSS has also utilized Facebook live discussions since 2017 through its regular program titled “USSSap Tayo” (previously known as Usapang SSS) every Friday morning to provide updates on SSS programs and services, and real-time answers to our members’ queries.

This online platform encourages our members to avail themselves of direct engagement by having

their questions answered during the live streaming, and majority of those asking questions and following the online program are overseas Filipino workers who are SSS members. In fact, SSS also launched the International Edition of USSSap Tayo in February 2020 to further reach out to OFWs and Filipino migrants all over the world who are SSS members.

Webinars, on the other hand, allow a conducive virtual environment for SSS members who want to delve into relevant topics that concern them and their SSS membership.

Moreover, it is also a good venue for employer representatives to understand SSS benefit programs in a comprehensive and detailed manner.

As we continue to share queries and answers, the SSS strives to facilitate and make the discussion audiencecentric.

With the rise and significance of social media these days, communication with our members has now become more practical, convenient and engaging. It also empowers the members as they participate in the kind of governance the SSS strives to achieve. As we face this difficult situation and other challenges in the future, the SSS will never falter in fulfilling its mandate to its members and stakeholders, which is to provide social security protection.

Please do like and share our official Facebook page, Philippine Social Security System @SSSPh, and follow us via Instagram @mysssph, and Twitter @ PHLSSS. Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Trump’s Mideast plan is poised to fall apart

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By Zev Chafets | Bloomberg Opinion

N July 1, Israel intends to begin the annexation of the Jordan Valley and the Jewish towns and cities of the West Bank. The problem is that Prime Minister Benjamin Netanyahu is doing this while distancing himself from other parts of the Mideast plan that the Trump administration put together.

Without the whole package, it will likely fail badly.

The annexation was meant to be an early down payment to Israel in the broader context of the American vision for peace in the Middle East.

That plan has many parts, but at its heart is the creation of a Palestinian state, with limited sovereignty, in roughly 70 percent of the West Bank and, eventually, all of Gaza.

Netanyahu was well aware of this when he enthusiastically embraced the plan back in January. He had been touting a “state-minus” solution

for years exactly like the proposed state in the Trump plan. Ramallah can raise a flag, but not an army. It can have a capital in the outskirts of Jerusalem, but not downtown. Palestinian police can keep the peace on their own streets as long as they protect the streets of Israel. Palestinian civilians living abroad would be welcome to enter, but not hostile armies.

These limitations would amount to a Palestinian declaration of Israel’s

legitimacy as a Jewish state, and a quit-claim on the territory beyond the new state’s borders. For Israel, a limited Palestinian state is a feature, not a bug.

The elderly Palestinian leadership in Ramallah and the Hamas regime in Gaza bitterly oppose the deal. But while it is not even-handed (reflecting the existing imbalance of power), it is also not nothing. There has never been a Palestinian state of any size or shape. A younger generation might feel that a Palestinian country aligned with Israel and the US, and backed billions in start-up money, would be preferable to another 50 years of Israeli occupation and Palestinian stonewalling.

Like the Palestinian leaders, Israeli Jews on the far right hate the deal. They oppose a Palestinian state as a matter of ideology and principle.

They fear that the American plan might actually work. This hard core is not politically numerous, but it is influential among Likud voters that Netanyahu relies on. They aim to convince the public that the deal is poisonous, and that Donald Trump is an enemy in disguise.

Netanyahu has stood up for Trump, but he is clearly distancing himself from the plan. Last week he told a right-wing newspaper that if the Palestinians fulfill the conditions of the Trump plan, “then they will have an entity that President Trump defines as a state.”

That dismissive language was a first salvo. A few days later, Minister of Energy Yuval Steinitz, was more explicit. “We didn’t announce that we’re adopting the Trump plan,” he said, “just parts of it.” Those parts See “Trump,” A7

www.businessmirror.com.ph

Opinion

Digital payments in the Philippines

An old friendship has flowered into a new partnership for mutual profit and progress

BusinessMirror

Message of Foreign Affairs Secretary Teodoro L. Locsin Jr. on the 45th Anniversary of Philippines-China diplomatic relations, June 9, 2020, Manila.

Atty. Dennis B. Funa

INSURANCE FORUM

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he Bangko Sentral ng Pilipinas (BSP) has recognized digital payments as a policy priority. It has advocated the migration from a cash-based to a digital or a cash-lite economy. It seems though that we have a long way to go because 85 percent of all retail sales in the country are still conducted in cash.

Perhaps a culprit is the low-awareness about the different e-payment platforms. With the advent of fintech, our march toward a digital economy could be accelerated.

Digital payment is defined as a “monetary transaction between two parties [individuals, businesses, or government] through a digital payment instrument [such as cards, bank transfer, mobile wallet, etc.] in which both payer and the payee use an electronic medium.”

Digital payment is done using prepaid and debit cards, credit cards, and mobile money accounts. The use of debit cards in the country has almost doubled from 38 million in 2013 to 71 million in 2018. The use of prepaid cards has also doubled from 35 million in 2013 to 70 million in 2018.

Prepaid cards comprise about 47 percent of total card use but comprises over 78.5 percent of total transactions. It is, therefore, the foremost form of digital payment. The use of credit cards has increased from 7.5 million in 2013 to 9 million in 2018.

The Philippines was one of the first countries to pioneer digital payments in 2001 with the launch of mobile money. It was first introduced in the country by Smart Communications Inc., a telecommunications provider. The platform allowed the transfer of funds, the payment of bills, and purchase of goods with the use of mobile phones and a reloadable prepaid card. But its adoption and use has been largely limited.

Since its introduction, mobile money has grown by leaps and bounds. In 2013, digital payments accounted for only 1 percent of the country’s total transaction volume (26 million out of 2.5 billion payments per month). By 2018, the volume of digital payments has increased to 10 percent (of overall payments) corresponding to 20 percent share in the total transaction volume (meaning, value). The 2018 monthly overall transactions was estimated at between 4.6 and 5.8 billion. It is estimated that there are 470 to 490 million digital transactions every month in the Philippines. A 20 times jump over the monthly digital transactions in 2013 (25 million). The BSP has targeted a 20 percent share of digital payments by the year 2020. Of the 470 to 490 million digital transactions, 85 percent of these were by individuals, 12 percent by businesses

Trump. . .

continued from A6

include annexing the settlements and the Jordan Valley. As for the rest, it’s no longer clear what Israel is planning.

This approach amounts to a gratuitous land grab (Israeli control of the Valley and the settlements is already a fact of life). And it empties the plan of its promise.

Benny Gantz, the coalition’s number two and Netanyahu’s presumptive successor, understands this. The center-left faction he leads supports the American plan in its entirety. Gantz is already under fire from his center-left voters for breaking his campaign vow not to serve in a Netanyahu-led government. If he acquiesces to Bibi’s annexation game, it could very well destroy his remaining credibility and his political ambitions.

If, on the other hand, Gantz opposes Netanyahu, it would likely bring down the government. To stay in power, the prime minister would

(B2X) and 3 percent by government (G2X). The overall growth rate in digital payments in the Philippines is estimated to be 27 percent to 30 percent, compared to 25 percent in emerging Asian countries. And yet, less than 5 percent of the population regularly makes digital payments.

Two regulatory initiatives are recognized as bolstering digital payments in the country. First is the National Retail Payment System, which was launched in November 2015.

Under the NRPS, the BSP launched two automated clearing houses, the PESONet in 2017, and InstaPay in April 2018. NRPS also provided the framework for the governance of payments in the Philippines. Second is the National Payment Systems Act or Republic Act 11127, enacted in October 2018. This provided for the regulation of all payment service providers and operators of the payment systems by the BSP. The use of payment cards has also increased over the years such that by 2018 about 21 million Filipinos own prepaid and debit cards. Mobile money has also gained popularity with 5 million accounts in 2018. Digital payment has also gained traction with the acceptance by merchants of digital payments. Yet only 12 percent or about 120,000 of all merchants accepted digital payments in 2018. The introduction of mobile wallets, such as GCash and PayMaya, ushered in new payment methods. The latest is the QR code-enabled payments, with about 60,000 merchants availing as of 2018. One thing working for the promotion of QR code platform is the cheaper hardware cost compared to the PoS terminal.

The growth of digital payments has been accelerated by increased investments in fintech companies.

China’s Tencent and the International Finance Corp. have invested $175 million in PayMaya Philippines (formerly Smart eMoney Inc.), through its parent company, Voyager Innovations, a PLDT subsidiary. Ant Financial, an affiliate of Jack Ma’s Alibaba, has invested in GCash, through Globe Fintech Innovations Inc. (Mynt), a fintech start-up wholly owned by Globe Telecom, in February 2017. then need the same right-wing hardliners, currently in the opposition, whose price would be rejection of the American plan.

The Middle East is not presently at the top of the Trump administration’s to-do list. Restoring racial calm, dealing with Covid-19 and its economic consequences and waging cold war against China all have more urgent claims on the President’s attention.

But the Trump administration is not exactly overflowing with foreign policy successes. The plan is worth defending. Trump (or, more probably, Secretary of State Mike Pompeo) needs to tell Netanyahu in clear terms that he can’t chip away at the American plan for his own political convenience. The US should assure Gantz that the administration will back him up if he opposes the premature annexation.

The Trump plan, perhaps improbably given its provenance, reflects the realities of today’s West Bank demography and the balance of power between Israel and its neighbors.

W

ăn shàng hăo!

There are stages in a great country’s history when, in surmounting the obstacles to its evident great destiny, it adopts measures of controversial character and uncertain result.

These are monumental experiments with commensurate risks.

But there is no other way forward. From these experiments it will draw lessons that will teach it how better to proceed—drawing encouragement from the parts that went well, learning caution and avoiding the parts that did not; to clear the board of old things obstructing a fuller realization of the new, with its potential for greater energy. In retrospect one sees the price often paid in a country’s quest for national greatness; the gains are not always so quickly realized and apparent. But we see them in the new China today. The late President Marcos asked my father a newspaper publisher, me, and his other writers to take a peek behind the Bamboo Curtain and tell him and our country what we saw.

We did that. We made sincere friends among the mainland Chinese. We did not have to do it. China was poor. It had nothing to offer except what we came to freely give and generously received in turn: sincere friendship and mutual understanding. It was 1967; the start of the Cul-

tural Revolution. Only the Chinese people have the right to judge that stage of Chinese history; no other country especially in the West has any call or right to do so. They were not there; and had they been they would have seen only the worst they already thought of China. The proof

Wednesday, June 10, 2020 A7

is that of the Western journalists who went to China only one, Felix Greene, told the truth unvarnished but with the sympathy essential to putting it in historical context.

Not much later, President Marcos defied the threatening taboos of the Cold War then at its height; and boldly established diplomatic relations with the People’s Republic of China. His First Lady Imelda Marcos became an icon of Chinese womanhood. Since then there has never been a break in the friendship of our peoples. Among the first full state visits made by the new President of the newly restored Philippine democracy was to China. It came off very well and most warmly like a visit to long lost relatives. After all the People’s Republic of China was among the first to recognize the restored democracy and its elected government. We are still grateful for that. The feeling of warm friendship has not cooled let alone been lost, not even in our differences. But under President Duterte that old friendship has flowered into a new partnership

for mutual profit and progress.

For China is no longer poor. Far from it. Whatever happens in the future one achievement is undeniable and will always be to the new China’s unique credit: that in a time when many old rich countries experienced the fall of their middle classes into poverty, China raised 800 million from poverty to middle class by any scientific definition of the category. China knows something the rest of the world does not or will not admit and practice: that the first duty of a state is the care of its people, the material enhancement of their lives and the fuller realization of their individual talents for the greater good of all. Truly, to each according to their need; from each according to their ability. On the 45th anniversary of the establishment of the diplomatic relations between China and the Philippines, I offer heartfelt greetings and warmest best wishes.

Truly Dōng Fāng Hóng the East is Red with the warmth of FilipinoChinese friendship. God bless the Chinese and the Filipino peoples.

No special treatment given to foreign employees of PSPs MAIL

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his is in response to the opinion piece titled “Siding with foreigners?” by Rev. Fr. Antonio Cecilio T. Pascual, in his column Servant Leader, published in BusinessMirror on June 5, 2020.

On behalf of the Accredited Service Providers Association of Pagcor (Aspap), the group of legitimate and compliant Philippine Offshore Gaming Operator (POGO) Service Providers or PSPs in the Philippines, I would like to respond to this column to make certain clarifications.

We must emphasize that no preferential or special treatment is granted to the foreign employees of PSPs. From the start of the lockdown, Philippine Amusement and Gaming Corp. (Pagcor) has been aggressive—with the help of local government units and other regulatory agencies—to ensure that all foreign and Filipino employees of PSPs are following the rules and guidelines set by the government.

PSPs do not have “makeshift medical facilities,” hidden or illegal hospitals that exclusively cater to

foreign employees. Although there are company clinics within the establishments of PSPs, these are allowed and permitted by law. These clinics, like most company clinics, are there to attend to the immediate needs of the employees. This is not similar to the care and confinement administered by hospitals. In addition, these clinics are well aware and equipped with the necessary safeguards and health protocols to battle against Covid-19. If a Covid-19 case is determined, the employee must be referred to the Department of Health or a nearby hospital in accordance with the Inter-Agency Task Force’s (IATF) guidelines.

As to the testing that took place in Clark, Pampanga, this was done in coordination with the Philippine Coast Guard (PCG) and other local officials using test kits purchased by Shidaikeji Technology Corp. Contrary to what was stated in the column, no one exhibited Covid-19 infections at the company clinic. Neither was it operating as a Covid-19 clinic, there being no positive Covid-19 case, Person Under Investigation or Person Under Monitoring in Clark.

Aspap understands the concern on the alleged late release of the test results of repatriated Overseas Filipino Workers taken by PCG. The inclusion of the foreign employees’ names in the test results was inadvertent and must not be translated as preferential treatment in their favor. As stated by PCG Commandant Admiral Joel Garcia: “The PRC did not distinguish between OFWs and

the Chinese workers from Fontana, who were inadvertently included in their report.”

We are unaware of the circumstances in the testing conducted on the repatriated OFWs taken by PCG and forwarded to the Philippine Red Cross. Aspap is ready to work with PCG, PRC, and other health officials to improve and streamline the testing and confirmation process with utmost priority to the repatriated OFWs. Anent the claim that PSPs continued to operate amid the quarantine, this is false. PSPs are in the process of complying with the guidelines set by the Bureau of Internal Revenue. Once cleared, PSPs shall resume operations in compliance with health protocols issued by the government. Pagcor also conducts random inspection—together with the local government units—to make sure that nobody is working (during the lockdown) in their office sites.

As to the incident in Subic Bay Metropolitan Authority, Ekxinum explained that, as sublessee of the property, it has no control over the guards that met the inspection team who were advised to wait for a representative of Ekxinum.

Due to closure of operations, no authorized personnel from Ekxinum was present and the inspection team left as they expected that said guards may enter and open the offices. However, it must be mentioned that this happened a day after an unmanned drone

was sighted conducting illegal surveillance activities on Ekxinum, which may explain the heightened security. Regardless, Ekxinum informed SBMA that it was ready for an inspection anytime thereafter.

Aspap agrees with Rev. Fr. Pascual that there should be no special treatment for foreign employees who must be held accountable if they disobey Philippine laws and if they fail to pay proper taxes. Aspap is together with the government in shutting down illegal online gaming, known as Non-accredited Offshore Gaming Operators. Aspap supports all efforts in purging NOGOs since these endanger the progress and development of the country’s gaming industry that stands to raise billions in government funds, much needed now in our fight against the Covid-19 pandemic. However, Aspap takes exception to broad generalizations made in media that may affect our legitimate PSPs. Amid the confusion due to the proliferation of unverified stories and half-truths in the pandemic, it is important for media outlets and our journalists to be prudent in printing and repeating information. We are all concerned with the safety and welfare of everyone in our country, and the important thing now is for us to come together.

Atty. Margarita N. Gutierrez Accredited Service Providers Association of Pagcor secretariat@mngutierrezlaw.com

Jobs surprise complicates picture for the Fed

By Mohamed A. El-Erian Bloomberg Opinion

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his week has started where last week left off for financial markets and policy-makers— that is, trying to assess how much of Friday’s surprisingly good US jobs report is real and how much of it could end up being a head fake. Although markets are not waiting for the answer, and understandably so given the deep win-win conditioning they have embraced, policy-makers are in a tougher situation. This is particularly the case for Federal Reserve officials, who are preparing for their two-day policy meeting starting on Tuesday. In addition to parsing the latest employment data, they have to deal with the added complexity of the significant bear steepening in the Treasury market yield curve recently.

As detailed here, the impressively strong jobs report may be a function of some combination of the following: A notably resilient US economy

that is already picking up steam, the impact of policy measures such as the Paycheck Protection Program, and data issues that may be subject to revision. It’s unlikely that we will be able to sort out with confidence the relative contributions of these three factors before the next monthly jobs report at the earliest.

Markets are not waiting for such resolution, and for good reason. The dominating narrative in the marketplace remains that risk assets will gain from either a strong or weak economy because central banks will have no choice but to provide additional exceptional support in the event of a disappointment. With that, asset prices have continued to move higher after the jobs report, especially those for heavily lagging “reopening stocks.”

In doing so, they continue to outpace the improvement in the real economy in a striking fashion.

The resolution question is trickier for policy-makers. With some politicians already suggesting that Friday’s

report reduces the need for more stimulus, this puts even greater pressure on the Fed when officials are also trying to decipher the recent move up in yields coupled with significantly steeper for two- and 10-year and twoand 30-year Treasury curves. Specifically, Fed officials need to determine the relative contributions of higher growth expectations, larger Treasury bond issuance because of the expanding fiscal deficit and lower investor demand because of skepticism about Treasuries’ traditional effectiveness to hedge portfolios.

For the reasons detailed here, I felt even before the jobs report that, when it comes to new exceptional policy announcements this week, the Fed should stay on the sideline for now and instead focus on making the Main Street Lending program operational as soon as possible. After all, markets are functioning well, liquidity is high, risk asset prices have been surging, and there is no evidence that tight financial conditions are hold-

ing back economic activity. With the possibility that the jobs report may reflect a faster-than-expected economic pickup, there would be even less of a case for doing so.

Having said that, I’m far from convinced that this is what the Fed will do. The central bank’s exceptional activism has been driven by two selfreinforcing narratives: “go big” and provide “insurance,” both of which have been reinforced by concerns about destabilizing markets lest that add to the economic challenges. If this mindset continues, the central bank could well be inclined to strengthen its policy guidance this week beyond the publication of the revised blue dots while continuing to signal that it is also looking into other possible measures, such as yield-curve control.

In doing so, it would risk exacerbating the disconnect between the real economy and markets that, in turn, risks fueling potentially disruptive economic, financial, institutional and sociopolitical risks.

A8 Wednesday, June 10, 2020

Red Cross chief prods govt on more tests F

OUR months after the Department of Health (DOH) reported the country’s first case of Covid-19 and with the continuous rise in the number of positive cases, Philippine Red Cross (PRC) chairman and CEO Sen. Richard J. Gordon urged the government to set a clear policy on containing the deadly respiratory infection and reiterated the need for a massive testing in the fight to flatten the curve.

“I have consistently declared that the best way to fight the virus is to unmask it, to expose the virus as it hides in our people. Exposing the virus means testing the population to find out those who are positive, isolate them, do contact tracing, provide medical treatment and take care of the other family members,” said Gordon.

Gordon pointed out that the World Health Organization (WHO) has been recommending to test at least 13 percent of the country’s total population or 1.6 million individuals.

In support of this target, the PRC, which Gordon heads, has invested in test facilities that currently has a capacity of 12,000 tests per day.

When more of the PRC’s molecular laboratories start to operate, the daily testing capacity will increase to 22,000. Since April 14, the PRC has tested over 90,000 individuals but according to Gordon, only 25 percent of the tests were for Metro Manila local government units (LGU).

“This is not good for our country. The government should make up its mind on this matter and the DOH and PhilHealth must get their act together on testing everybody. It seems deplorable that a very minor percentage of the Metro Manila population has been tested. At the same time, the number of people getting infected and worse, succumbing to the virus, keep increasing,” Gordon said.

“We recommend that the IATF set a definitive goal for testing in Metro Manila and coordinate with the Department of the Interior and Local Government as well as with the Metro Manila Development Authority to ensure implementation of this target,” he added.

DOT eyes international ‘travel bubble’ with virus-free zones

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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HE Department of Tourism (DOT) is considering the adoption of travel corridors between Covid-free zones in the Philippines and similarly safe countries abroad.

In an interview, Tourism Secretary Bernadette Romulo Puyat told the BusinessMirror, because of Covid-19, “It’s hard to sell the Philippines as a whole. So we’re now looking at travel bubbles or travel corridors, between Bohol, if Gov. [Arthur] Yap is open, with other countries like Australia.” She also mentioned New Zealand and South Korea as possible partners for a tourism corridor.

She said Bohol is an ideal area to gradually reopen the country to international tourists because it is building its own Covid-19 testing

laboratory. So foreign tourists from other safe countries can get quick results on their RT-PCR tests once they land at the Panglao international airport. “I’m hoping that because Bohol has that RT-PCR testing, [the tourists] don’t have to be quarantined for 14 days. Quarantining for 14 days is just a way of saying ‘don’t come here.’”

Even the World Travel and Tourism Council (WTTC), a global organization of private tourism and travel professionals, are opposed to the 14-day quarantine of international tourists. (See, “WTTC opposes

14-day quarantine requirement for travelers,” in the BusinessMirror, May 19, 2020.)

RT-PCR or the reverse transcription–polymerase chain reaction, is currently the gold standard in testing for the novel coronavirus.

Using a throat or nose swab, results can be as short as four hours.

The creation of travel bubbles “is also a way to open up the other international airports here and decongest Naia [Ninoy Aquino International Airport],” said Romulo Puyat. For now, leisure travel is still prohibited under the general community quarantine (GCQ) status, but will be allowed under the modified GCQ. She said she will bring up the idea of these travel bubbles with her overseas counterparts, and also ask the assistance of the Department of Foreign Affairs (DFA) to bring it up with other countries.

A travel bubble with other countries also dovetails with the DOT’s earlier plans to create tourism ads for key destinations in the country.

Some of the key images for these ads have now been used for the DOT’s “Wake up in the Philippines” ad campaign on social media. (See, “DOT soft sells PHL with new ‘dream’ ad,” in the BusinessMirror, April 27, 2020.)

The idea of a travel bubble or travel corridor was raised in the UK and the European Union, as some member-nations have started lifting international travel restrictions. Australia and New Zealand have also been discussing the idea, and may include Singapore as a partner.

Last week, travel experts were also suggesting travel corridors between island destinations in the Philippines to help jump-start domestic tourism. Even with MGCQ, however, many of these destinations like Bohol, Boracay, and Siargao are still hesitant to accept domestic tourists. (See, “Inbound tourism receipts plunge 61 percent in January-May 2020; LGUs still cautious,” in the BusinessMirror, June 3, 2020.)

Anti-terror bill under Palace, DOJ review

By Jovee Marie N. dela Cruz @joveemarie

& Joel R. San Juan @jrsanjuan1573

LOW PRESSURE AREA 465 KM EAST OF GUIUAN, EASTERN SAMAR INTERTROPICAL CONVERGENCE ZONE AFFECTING PALAWAN, VISAYAS AND MINDANAO as of 4:00 am - June 9, 2020

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HE enrolled anti-terrorism bill (ATB) was sent to the Palace for President Duterte’s signature on Tuesday, as the

Department of Justice (DOJ) assured the public that it would do everything possible to prevent any abuse under the controversial measure once it crafts the implementing rules and regulations (IRR).

This after Senate President Vicente Sotto III and Speaker Alan Peter Cayetano signed the enrolled bill or the act to prevent, prohibit and penalize terrorism, thereby repealing Republic Act 9372 or the Human Security Act of 2007.

President Duterte will have until next month to decide if he will veto or sign into law the controversial Anti-Terrorism Act of 2020.

“We have 30 days. If it is not signed into law by the President by then, it will become law. So, we have a 30-day period to review, either to veto or to sign the bill,” Presidential Spokesman Harry Roque said during an online press briefing on Tuesday.

“Like what I said before, that [review] will go through the process. It provisions will be studied well. If it has any unconstitutional [provision], then the President will be advised to veto it,” he added.

On Monday, the DOJ said it was tasked by the Palace to review the provisions of the bill amid allegations by some groups that it contained unconstitutional provisions.

Those opposing the passage of the bill also hit its vague definition of terrorists and the creation of the Anti-Terrorist Council, which will be tasked to determine who can be considered as terrorists.

They claimed the legislation could be abused by the government to go after activists and its detractors.

Roque allayed such concerns by stressing that the bill has safeguard to prevent its abuse by authorities.

Reconsider

EARLIER, lawmakers asked the House leadership to delay transmitting the bill to Malacañang as many solons are reconsidering their “Yes” votes on the passage of the bill. Several original coauthors of the House version had also disowned the bill, since the lower chamber adopted the Senate version in order to avoid convening a bicameral conference committee and meet the legislative deadline before the June 5 sine die adjournment.

Justice Secretar y Menardo Guevarra assured the public,

meanwhile, that the DOJ together with the Anti-Terrorism Council would leave no doors open for abuse of the ATB once they promulgate its IRR. Guevarra made the statement as the DOJ commenced its review on the constitutionality of the provisions of the ATB, which was passed by the House. The Senate passed its version in February, before the Covid-19 pandemic began.

Guevarra said it has been the practice of the Executive branch to review proposed laws prior to signing by the President.

While they have not yet been informed by the Office of the President (OP) on the time given to them to submit their comments, Guevarra said they would set their own deadline of 15 days, beginning Tuesday, to finish their comments on the recently passed ATB. “Should the ATB be enacted into law, the DOJ will endeavor to define more clearly, in the IRR that the ATC and the DOJ will be tasked to promulgate, the parameters within which the law will be implemented and enforced, in order to erase any latitude for misapplication or abuse,” Guevarra said.

Guevarra also said that the Palace order for the review of the ATB was not merely a “perfunctory statement” since based on his experience as former deputy executive secretary, all enrolled bills are carefully reviewed with the help of the relevant executive agencies before they are submitted to the President for signing into law.

“As a lawyer himself, the President has a good grasp of any legal or constitutional issues involved,” Guevarra added.

The DOJ chief also gave assurances that even if he is a member of the ATC, it would not affect the independence of the DOJ’s National Prosecution Service (NPS) in hea r ing ter ror ism-rel ated complaints.

He clarified that the ATC is essentially a policy-making body, while the NPS determines the existence or nonexistence of probable cause on the basis of evidence actually presented before it.

He also pointed out that as Secretary of Justice (SOJ), he does not participate in the investigative process although he exercises the power of review.

Continued on A2

Broiler bloc raps BAI pitch for importation

By Jasper Emmanuel Y. Arcalas @jearcalas

L

OCAL broiler raisers have refuted the Bureau of Animal Industry’s (BAI) claim that chicken meat imports do not threaten domestic poultry industry, and criticized the agency for its “incongruent” policy recommendations amid a supply glut that caused producers to lose millions in profit.

In an open letter addressed to Agriculture Secretary William D. Dar, the United Broiler Raisers Association (Ubra) narrated its disappointments and criticisms of the BAI, an attached agency of the Department of Agriculture (DA).

Ubra explained that they were invited to attend a virtual meeting by the Philippine Council on Agriculture and Fisheries regarding the current situation of the local broiler industry.

However, Ubra said their proposal to suspend chicken meat importation amid the local supply glut was thumbed down immediately. Worse, Ubra said BAI’s presentation was “designed to dismiss the threat of imports” on the local poultry industry.

“The BAI initially argued that the volume of imports was small in proportion to local production and therefore could not be a threat. We replied that it was not a mere threat but that it has caused actual damage in the last 25 years,” the group said in the letter dated June 5.

“The volume of imports need not be overwhelming to cause damage. It only takes a relatively minimal volume to move farm-gate prices from profit to losses as agricultural products are commodities,” the group added. After arguing that there is no need to suspend imports, the BAI told them to just “self-regulate and limit” local production to resolve the present supply glut, Ubra lamented.

Ubra pointed out that such policy recommendations run counter to the economic managers’ pronouncements of boosting domestic food production as part of the new normal.

“In the kindest possible terms, this is one of the most bizarre thinking that ever emanated from the DA. The incongruence is glaring,” it said.

“As if matters could not get any stranger, we were then told to go into exports.

It is disappointing, to say the least, that the BAI is pretending to be unaware of the competitive environment in the international market,” it added.

Ubra said the open letter was meant to assist Dar and the agencies “by providing knowledge and information on the challenges involved to reform the system.”

The Philippine Chamber on Agriculture and Food Inc. (PCAFI) on Tuesday threw its support behind Ubra’s open letter and went on to demand the resignation of the BAI director over the agency’s recent pronouncements on the woes of the broiler raisers. “We are now doubting the sincerity of Dar’s Ani and Kita vision.

It seems it is only for foreign farmers. We cannot understand who are the principals of BAI? Who are they protecting? It should be the Filipino farmers,” PCAFI President Danilo V. Fausto told the BusinessMirror.

“It has always been about importation. If there is rice shortage, we import and now we are having an oversupply of chicken meat yet we are still importing.

This is against Dar’s Ani and Kita vision,” Fausto added.

Dar’s marching order

HOWEVER, in a virtual press briefing on Tuesday, Agriculture Undersecretary Ariel T. Cayanan said that Dar’s marching order to BAI was clear: support local food production, including broiler and poultry.

“The Secretary is very meticulous. After determining that the broiler industry has excess supply, the Secretary ordered to regulate the importation [of meat] by implementing more stringent sanitary and phytosanitary regulations,” Cayanan said. “[Dar] instructed BAI Director [Ronnie D. Domingo] to support local food production, including broiler and poultry. That’s why he ordered to tighten the issuance of SPS import clearance,” Cayanan added.

Last week, Dar issued Administrative Order No. 24 Series of 2020 that implemented additional guidelines on the approval of SPS-ICs for imported meat commodities in light of high cold storage inventories.

Under the AO, meat importers are now required to submit a Certificate of Availability of Space of Accredited CSWs and Meat Importation Usage report to be able to secure their SPS-ICs. “In view thereof, as CWSs are critical facilities in maintaining freshness and safety of imported meat and meat byproducts, additional measures are hereby imposed by the Department to ensure proper cold chain management thereby safeguarding food safety of meat commodities,” Dar said.

Companies BusinessMirror

www.businessmirror.com.ph

Jump in data demand seen boosting PLDT H1 revenues

T

By Lorenz S. Marasigan

@lorenzmarasigan

he outlook for the first semester of 2020 for telco titan PLDT Inc. remains positive, its chief executive said on Tuesday, as demand for connectivity during the ongoing pandemic continues to rise.

During the first livestream of the company’s stockholders meeting, PLDT Chairman Manuel V. Pangilinan said his group forecasts that the service revenues and telco core income for the first half of the year will be better than that of 2019.

He explained that during the middle part of the lockdowns, the company saw a “steady, upward march of our revenues—especially in wireless and home broadband.”

“Given this momentum, it is likely that service revenues for the first six months this year will improve over last year’s—despite the pandemic. Similarly, we expect our first half telco core income to rise above last year’s, again, despite the pandemic,” said Pangilinan.

The company booked P76.7 billion in

service revenues during the first half of 2019, which was then the “highest halfyear revenue level posted since the second semester of 2014” driven mainly by its consumer wireless business, as well as home, and enterprise verticals.

Its telco core income—which does not take into account its investments in Voyager Innovations Inc.—was flat at P13.2 billion, while its net income was at P12.2 billion during the period under review.

Despite saying that the outlook for the first half of 2020 is better than that of 2019, Pangilinan declined to provide absolute numbers.

“Because of the pandemic’s scale and scope, we have to allow the blast effect of the pandemic to take its full course before

BusinessMirror file photo

we’re able to furnish guidance numbers with some precision.”

PLDT saw its profits declining by 12 percent to P5.9 billion in the first quarter, from P6.7 billion the year prior due to the losses it incurred both from its shares in German tech company Rocket Internet and in financial technology company Voyager Innovations Inc. Its telco core income was also lower by 5 percent to P6.9 billion, from P7.2 billion, as it ramped up spending on its network development programs during the said quarter, coupled with an “exceptionally high” telco core income the

year prior, when it incurred lower operating costs.

The company’s top line was at an all time high of P41.5 billion during the first three months of 2020, a 9-percent increase from P37.9 billion the year prior, as data and broadband services, particularly on its wireless network, persisted on a growth path. Data now accounts for 71 percent of the company’s total revenues.

PLDT is cutting its capital expenditures guidance between 20 percent and 25 percent this year from its original guidance of P83 billion for 2020 due to limited mobility and supply chain issues.

AllHome to open more stores this year

By VG Cabuag @villygc

A

llHome Corp., the listed retail arm of the Villar group, on Tuesday said it will continue the nationwide expansion of its stores—considered the source of most the company’s growth— despite the onslaught of Covid-19.

AllHome Vice Chairman Camille Villar said the company is confident about the prospects of opening more stores, mainly in Mindanao and in the northern part of Luzon, especially with the easing of community quarantine restrictions in many parts of the country.

The company, she said, is already prepar-

DA taps Swiss firm’s satellite technology for crop insurance

By Jasper Emmanuel Y. Arcalas @jearcalas

T

he Department of Agriculture (DA) has tapped Swiss firm Satsure AG to improve its crop insurance program by using satellite technology to fast-track monitoring and delivery of indemnification to disaster-hit farmers.

The DA said it has signed a memorandum of agreement with Satsure AG through the Planters Products Inc. last June 8 “to provide better crop insurance in the country.”

The digitization project, with an initial fund of P5 million, targets to provide satellite imaging for the 100,000 hectares planted with rice and 40,000 hectares planted with various crops in the next six months, according to the DA. The project will be piloted in Nueva Ecija, Iloilo and North Cotabato, it added.

“We welcome this partnership between PPI and Satsure AG. It will help in our ongoing efforts to provide our farmers with direct and targeted assistance to improve their productivity,” Agriculture Secretary William D. Dar said in a recent statement.

“The traditional source of information which relies heavily on fieldwork will be insufficient in the country.

As we modernize our agriculture sector, we must continuously explore for relevant technology to increase sufficiency and productivity,” Dar added.

He said the project would help DA to improve its disaster response, particularly on risk insurance.

The Satsure AG is a developer based in Switzerland whose works include remote sensing satellite and other sensing sources to monitor agricultural crop portfolio and estimate agriculture yields with the objective of enabling better risk management and improving crop insurance and agriculture lending to farmers, according to the DA.

ing for the opening of its Santiago, Isabela branch in the third quarter of the year.

“AllHome’s strength of being close to residential communities makes it a go to place during quarantine periods and even after the community quarantine. Consumers now deems it important to shop closer to home and in a space that’s not overly crowded for their own safety,” said Villar.

“Being a home essential provider, AllHome will continue to provide service to those who are fixing their own homes or contractors who have resumed construction activities.”

AllHome now has a total of 45 stores around the country. It has 35 stores in Metro Manila and nearby cities, five in Lu-

zon and five in the Visayas and Mindanao.

“We have a solid pipeline of new stores around the country and have the ability to fast track construction of those stores given our affiliation with the Villar Group’s commercial and residential companies,” said Benjamarie Therese N. Serrano, the company’s president.

“We are just timing the opening of those stores given the recent pandemic,” Serrano added.

AllHome’s new branches are located in Ampayon, Butuan; Koronadal City South Cotabato, which will add to its existing branch in Cagayan de Oro. The company also opened its new branch in Gapan, Nueva Ecija and in San Ildefonso, Bulacan.

“By offering seven product categories—construction materials, hardware, tiles and sanitary wares, furniture, appliances, home wares and linens—All Home is able to provide the market a complete offering of solutions for home improvement and construction,” the company said.

T he company managed to post a 30-percent income rise during the first quarter to P270.2 million, from last year's P207.1 million, mainly as a result of its aggressive expansion.

Revenues for the period rose 41 percent to P3.4 billion, from P2.4 billion in the same period in 2019, the company said.

Clark’s top semicon firm vows to continue operations

By Ashley Manabat Correspondent

C

lark Freeport—Electronics industry giant SFA Semicon Philippines (SFA), this freeport's consistent top exporter, has remained steadfast in its commitment to continue its operations here.

The company said it will remain open despite the challenges brought about by the Covid-19 pandemic to industries inside this freeport.

SFA said it is also committed to safeguarding the safety of its employees even before the implementation of the general community quarantine (GCQ).

The top semiconductor firm has maintained business continuity by incorporating safety protocols and standards in their processes during the strict periods of quarantine, said Daisy Malig, SFA Human Resource and General Affairs deputy team head.

“Our operation is normal and of course, we follow protocols, [such as] social distancing and many other guidelines for Covid-19 so everything has been in place,” said Malig.

SFA is a subsidiary of global consumer electronics and mobile communications giant Samsung. It has about 1,300 employees and is Clark’s consistent top exporter for the past few years.

For 2019, the value of its exports was pegged at $5.51 billion.

According to Malig, the company's strict implementation of health and safety protocols has helped ensure the unhampered operations of Samsung's affiliate.

She said the company was able to assure compliance with biosecurity protocols not only for Clark but also for their employees following the GCQ guidelines set by Clark Development Corp. (CDC).

SFA Semicon Philippines, a consistent top exporter of Clark Freeport Zone, continues normal operations while ensuring the safety and well-being of its workers. CDC-CD Photo “The recently uploaded GCQ guidelines by CDC has become our basis to comply with the requirements. Of course, we have to do it, not only for Clark but for the employees as well. And to make sure that our operations will not be hampered, we have to have a strict implementation of the protocols and additional preventive measures from the guidelines of CDC.” Malig also said a big majority of their employees have returned to work and are being accommodated inside the freeport.

“Actually, our current manpower, including services like housekeeping and security guards, is almost 1,300. But if services are excluded, 90 percent of our manpower have already returned to work."

CDC has allowed locator-firms to gradually increase their capacity and number of workers. The step increments in capacity are mostly based on the firms’ compliance with health protocols such as physical distancing in workplaces.

Malig said before deploying employees, the company requires them to go through safety procedures, such as undergoing quarantine. “[From] March 18, we already have some deployment. We have these batches of manpower

but we did some surveys on who among our employees are willing and not willing to report to work. If they don’t want to report yet, we won’t force them to do it,” she said.

“Before the deployment, we also initially required them to undergo seven days’ quarantine.

For our employees who come from high-risk areas, 14 days quarantine is what we require of them. Then, daily monitoring and checking of health conditions are also being conducted.”

Meanwhile, Malig enjoined the public and other locators here to continue supporting and helping each other in making sure that all health standards are being met in this freeport.

“We just have to get together with the support of everyone. Coordination, cooperation, and sharing of information on best practices to all locators. On our part, we have this initiative in conducting our own observation. Like, if a certain industry is not following the guidelines and social distancing protocol, we also report it,” she said.

“Because we know that CDC cannot do it alone, so we have to help them as well, by providing information about other industries who do not comply and help them be monitored and be guided.”

Wednesday, June 10, 2020

B1

SEC urges public to register firms via online services

T

he Securities and Exchange Commission (SEC) on Tuesday said it will continue limiting its face-toface transactions with the public as it continues its online company registration and monitoring services.

Aside from applications for company registration, the SEC said it now accepts requests for monitoring of corporations, status of corporations, certificates of no derogatory information through e-mail.

The agency said the public may e-mail their applications for amendment of articles of incorporation or partnership and by-laws, increase or decrease of capital stock, creation of additional paid-in capital, corporate reorganization, equity restructuring and amendment or conversion of SEC license, among others.

The SEC said it will also receive through e-mail petitions such as those for change of name, correction, revocation, voluntary dissolution, lifting of order of suspension or revocation, cancellation or substitution of payment in relation to the use of properties that require ownership registration as paid-up capital.

The e-mail addresses are listed at the agency's web site.

SEC said that “only those applications that have already been assessed and approved for payment through online processing will be entertained at the CRMD [Company Registration and Monitoring Department] premises. You may present the electronic proof of approval for payment/proof of payment [if paid] issued by respective processors/monitoring analysts/specialists through the guard on duty to be allowed entry.”

The SEC will continue accepting and processing applications for the registration of domestic corporations with at least five incorporators, foreign corporations and partnerships online through the Company Registration System or CRS. Corporations with less than five incorporators, including one person corporations, may still register using the online interim registration system launched in April.

Registrant One Person Corporations and corporations with less than five incorporators may submit their supplemental requirements such as the Foreign Investment Act Form and Authenticated Board Resolutions through e-mail, the agency said.

Capital market professionals may also continue registering and paying for their annual fees through the Capital Market Participants Registry System.

“Applications processed prior to the implementation of the enhanced community quarantine [ECQ] last March 17 shall be entertained for the release of documents for payment and for the issuance of payment assessment forms,” it said.

Applicants whose submissions have not been approved for payment but have been pre-processed prior to the ECQ period may also claim their documents at the SEC's main office, but they must further undergo online processing and comply with the requirements through email.

“Strict social distancing and other health protocols will remain in place in SEC offices across the country.

The commission will enforce a no face mask, no entry policy and limit the number of people allowed inside its offices,” it said. VG Cabuag

B2

Companies BusinessMirror

Wednesday, June 10, 2020

PSE STOCK QUOTATIONS

June 9, 2020

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

46.2 109.5 76.95 20.85 8.08 42 9.38 17.22 23.2 46.85 96.05 19.1 108.1 55.3 17 2.7 0.95 0.31 650 0.61 165.1 1700 1.05

47.6 110.5 77.3 20.9 8.09 42.1 9.77 18.9 23.5 49.25 105 19.2 108.8 55.5 17.1 2.8 1 0.32 698 0.62 168 1800 1.08

46.2 110 77 20.6 7.99 42.6 9.33 19.8 23.3 46.3 94 19.22 113 54.8 16.3 2.85 0.95 0.31 650 0.64 168 1700 1.05

47.4 112 77.4 20.9 8.38 43.35 9.38 19.8 23.7 49.45 105 19.22 114 55.5 17.6 2.85 0.95 0.32 650 0.64 168 1700 1.08

46.2 105.5 76.5 20.55 7.93 41 9.33 18.9 22.95 46.3 94 18.6 107 54.45 16.1 2.7 0.95 0.31 650 0.57 165 1700 1.05

47.4 110.5 77.3 20.9 8.08 42 9.38 18.9 23.2 49.25 105 19.1 108.1 55.5 16.9 2.7 0.95 0.32 650 0.61 168 1700 1.08

8300 3094360 1536540 107700 2569800 5248100 86900 1900 482200 800 590 89700 2553600 48910 13900 17000 7000 200000 400 2314000 1620 500 301000

390380 338007073 118261233.5 2233345 20862225 220000145 815093 36690 11221685 38895 61070 1690684 278733866 2686432.5 229874 47560 6650 63050 260000 1367270 271005 850000 316080

329600 67639258 -8824615.5 -3175263 -24443430 -2633625 -42333340 -1493142.5 -19500 10800 -43680 850000 315000

INDUSTRIAL AC ENERGY 2.29 2.3 2.37 2.38 2.28 2.3 7113000 16521550 ALSONS CONS 0.91 0.93 0.93 0.93 0.92 0.92 10000 9250 ABOITIZ POWER 28.8 28.9 28.7 29 28.5 28.8 1523200 43742780 BASIC ENERGY 0.168 0.17 0.166 0.168 0.159 0.168 2680000 433410 FIRST GEN 21.25 21.3 21 21.3 21 21.3 3113000 65759820 FIRST PHIL HLDG 60 60.05 60.3 60.3 59.1 60 154870 9276917.5 MERALCO 289.6 291 289.8 291 285.2 291 198890 57642110 MANILA WATER 12.5 12.54 12.9 12.94 12.4 12.5 3125400 39445404 PETRON 3.36 3.39 3.45 3.49 3.27 3.36 4382000 14854500 PETROENERGY 2.55 2.65 2.6 2.69 2.55 2.65 52000 137140 PHX PETROLEUM 10.86 11.22 10.92 11.26 10.9 11.26 174400 1945860 PILIPINAS SHELL 20.55 20.65 20.2 20.85 20.2 20.65 4383000 89859150 SPC POWER 8.12 8.13 8.1 8.13 8.1 8.13 49800 404812 VIVANT 14.24 14.98 15 15 13.02 13.02 200 2802 AGRINURTURE 7.32 7.33 7.55 7.55 7.01 7.33 504200 3667702 AXELUM 2.85 2.86 2.9 2.9 2.77 2.86 1325000 3757410 BOGO MEDELLIN 75.65 83.95 84.85 84.85 83.95 83.95 100 8424.5 CNTRL AZUCARERA 12.66 13.1 12 13.38 12 13.38 7700 98672 CENTURY FOOD 15 15.1 14.94 15.14 14.94 15.1 1054800 15853946 DEL MONTE 4.44 4.5 4.5 4.5 4.5 4.5 25000 112500 DNL INDUS 5.6 5.61 5.52 5.67 5.41 5.6 5363900 29910037 EMPERADOR 8.29 8.3 8.08 8.35 8.08 8.29 6224900 51220174 SMC FOODANDBEV 72.1 72.4 73 73 70.15 72.1 65580 4700930 ALLIANCE SELECT 0.55 0.56 0.55 0.56 0.53 0.56 1963000 1059450 FRUITAS HLDG 1.38 1.39 1.42 1.42 1.37 1.39 8095000 11222790 GINEBRA 34 34.75 33.5 35 33.5 34 88600 3013565 JOLLIBEE 138.9 139 133.1 139 132.5 138.9 2954630 403187858 MACAY HLDG 6.79 6.8 6.31 6.8 6.31 6.79 11200 74141 MAXS GROUP 6.29 6.3 6.45 6.64 6.2 6.3 2515100 16090576 PEPSI COLA 1.8 1.84 1.8 1.84 1.77 1.84 87000 156540 SHAKEYS PIZZA 6.92 6.93 6.96 6.97 6.72 6.92 747200 5140025 ROXAS AND CO 1.79 1.8 1.83 1.83 1.79 1.79 388000 698400 RFM CORP 4.41 4.47 4.4 4.47 4.4 4.41 7000 31160 ROXAS HLDG 1.63 1.67 1.67 1.67 1.67 1.67 2000 3340 SWIFT FOODS 0.11 0.115 0.117 0.117 0.115 0.115 480000 55640 UNIV ROBINA 148.3 149 142 149 138.1 149 855780 122434674 VITARICH 0.92 0.93 0.88 0.93 0.87 0.92 8526000 7700140 VICTORIAS 2.23 2.4 2.39 2.4 2.39 2.4 10000 23920 CONCRETE A 59.8 59.9 59.9 59.9 59.8 59.85 270 16156 CEMEX HLDG 1.21 1.22 1.23 1.27 1.18 1.22 19560000 24024210 EAGLE CEMENT 9.95 10 10 10.4 9.9 10 6680200 66754886 EEI CORP 5.67 5.68 5.75 5.89 5.45 5.67 1940000 10976069 HOLCIM 8.17 8.18 8.8 8.93 8 8.18 8616800 72983929 MEGAWIDE 7.9 7.92 7.99 8.36 7.5 7.9 19962500 157594801 PHINMA 8.41 8.8 8.78 8.8 8.41 8.8 4000 34230 TKC METALS 0.79 0.8 0.73 0.8 0.73 0.79 755000 581470 VULCAN INDL 0.7 0.71 0.69 0.73 0.69 0.7 2739000 1926940 CROWN ASIA 1.82 1.86 1.8 1.86 1.8 1.82 130000 235580 EUROMED 2.6 2.61 2.65 2.73 2.51 2.61 2541000 6641410 MABUHAY VINYL 3.55 3.6 3.5 3.55 3.5 3.55 10000 35100 PRYCE CORP 4.28 4.36 4.3 4.3 4.26 4.28 29000 124510 CONCEPCION 22.45 22.5 22.5 22.95 22.5 22.5 19000 427865 GREENERGY 1.64 1.65 1.61 1.65 1.59 1.65 6334000 10328250 INTEGRATED MICR 6 6.15 6.2 6.2 5.9 6 397900 2403457 IONICS 1.22 1.23 1.19 1.23 1.15 1.22 1843000 2189140 PANASONIC 4.28 4.5 4.21 4.28 4.21 4.28 11000 46660 SFA SEMICON 1.53 1.54 1.37 1.53 1.34 1.53 11279000 16405030 CIRTEK HLDG 8.36 8.38 8.85 9.09 8.2 8.36 14516100 126296127

1647050 -28141795 168450 -52547730 -4469596 17150758 4313446 -1389330 1092 -2231745 8130 14408 -347310 -58500 702034 1208045 -49350016 -630133 -88119.9999 1113885 144667682 -33950 -188776 2602148 26760 46879814 -18900 23920 105990 -32653643 229730 -6544112 10068257 8780.9998 -2380 -18400 -10 -8560 -247580 123130 -145177 14890.0001 -241580 1505607

HOLDING & FRIMS ABACORE CAPITAL 0.55 0.56 0.57 0.57 0.54 0.56 4929000 2726090 ASIABEST GROUP 8.09 8.11 7.98 8.24 7.98 8.11 63100 510930 AYALA CORP 800 801 797 804 779 800 485960 388248540 ABOITIZ EQUITY 51.9 51.95 52 52.2 51.6 51.95 794860 41215548 ALLIANCE GLOBAL 7.3 7.34 7.68 7.68 7.16 7.3 59158200 433103317 AYALA LAND LOG 1.85 1.86 1.9 1.91 1.8 1.86 1824000 3391280 ANSCOR 6.1 6.2 6.21 6.21 6.21 6.21 8500 52785 ANGLO PHIL HLDG 0.51 0.57 0.53 0.57 0.53 0.57 5000 2730 ATN HLDG A 0.61 0.62 0.62 0.63 0.6 0.62 4438000 2725550 ATN HLDG B 0.62 0.64 0.64 0.64 0.62 0.64 2021000 1270740 COSCO CAPITAL 5.61 5.62 5.66 5.72 5.58 5.61 2333200 13124233 DMCI HLDG 4.61 4.62 4.75 4.77 4.49 4.62 21000000 97329160 FILINVEST DEV 9 9.5 9 9.88 9 9 7200 67573 FORUM PACIFIC 0.189 0.19 0.171 0.189 0.17 0.189 520000 91870 GT CAPITAL 526.5 530 518 530 485 530 594150 306122899 HOUSE OF INV 3.4 3.54 3.55 3.55 3.5 3.5 60000 211800 JG SUMMIT 66.45 66.5 66 67 64 66.5 3381130 223536338 LODESTAR 0.52 0.54 0.52 0.54 0.52 0.52 184000 97250 LOPEZ HLDG 2.71 2.72 2.7 2.72 2.7 2.71 1174000 3176880 LT GROUP 9.48 9.53 9.41 9.77 9 9.53 3480400 32844055 MABUHAY HLDG 0.51 0.53 0.53 0.53 0.53 0.53 5000 2650 METRO PAC INV 3.54 3.55 3.58 3.58 3.43 3.55 45687000 161555540 PACIFICA HLDG 3.15 3.25 2.9 3.3 2.9 3.15 273000 839030 PRIME MEDIA 0.83 0.84 0.82 0.86 0.82 0.83 340000 283740 SYNERGY GRID 156 162 157 162 157 162 230 36160 SM INVESTMENTS 948.5 950 949 959.5 938 950 357250 339171310 SAN MIGUEL CORP 107.8 108 101.6 110 101.6 108 1032600 110352023 SOC RESOURCES 0.65 0.66 0.66 0.66 0.65 0.65 308000 200300 SEAFRONT RES 1.8 1.99 1.8 1.8 1.8 1.8 1000 1800 TOP FRONTIER 140.8 141.1 141 141 141 141 7090 999690 WELLEX INDUS 0.19 0.195 0.191 0.191 0.19 0.19 1150000 218610 ZEUS HLDG 0.142 0.148 0.145 0.148 0.142 0.147 580000 84080

-233640 -79133045 -9382621.5 10299781 5580 1175600 1227073 -23053460 -935 92577014 -138050 15300294.9993 -48700 5622902 63477770 312680 -51533965 706051 14100 -95000 -

PROPERTY ARTHALAND CORP ANCHOR LAND AYALA LAND ARANETA PROP BELLE CORP A BROWN CITYLAND DEVT CROWN EQUITIES CEBU HLDG CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DM WENCESLAO EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV KEPPEL PROP CITY AND LAND MEGAWORLD MRC ALLIED PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL SHANG PROP STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME VISTA LAND

0.56 8.31 37.8 1.07 1.43 0.63 0.72 0.122 6.21 3.9 0.395 0.29 18.58 6.62 0.28 0.098 1.06 0.89 10.28 0.93 3.7 0.7 3.3 0.158 1.45 20.05 0.255 1.62 2.7 1.89 33.45 4.01 1.25 4.4

0.57 8.95 38 1.08 1.44 0.64 0.74 0.124 6.36 3.95 0.4 0.3 18.6 6.65 0.285 0.101 1.07 0.9 10.38 0.94 4.27 0.72 3.31 0.159 1.5 20.1 0.26 1.68 2.74 1.9 33.5 4.06 1.27 4.41

0.56 8.21 37.75 1.08 1.48 0.62 0.75 0.124 6.38 3.94 0.405 0.27 18.18 6.7 0.285 0.1 1.09 0.85 10.4 0.88 3.64 0.72 3.45 0.161 1.5 19.02 0.26 1.58 2.72 1.95 33.4 4.01 1.29 4.37

0.57 8.98 38 1.08 1.49 0.63 0.75 0.124 6.39 3.97 0.405 0.3 18.6 6.7 0.285 0.1 1.1 0.91 10.4 0.93 4.38 0.73 3.45 0.161 1.5 20.1 0.26 1.68 2.74 1.95 34.15 4.08 1.29 4.45

0.54 8.21 36.65 1.05 1.44 0.62 0.74 0.124 6.2 3.9 0.395 0.27 18.18 6.65 0.28 0.098 1.03 0.85 10.28 0.85 3.59 0.7 3.26 0.151 1.45 18.5 0.25 1.58 2.7 1.9 33.1 4 1.25 4.15

0.56 8.23 38 1.07 1.44 0.63 0.74 0.124 6.37 3.96 0.4 0.3 18.6 6.65 0.28 0.098 1.06 0.89 10.3 0.93 4.27 0.7 3.3 0.158 1.5 20.1 0.26 1.68 2.74 1.9 33.5 4.06 1.27 4.41

850000 4200 12179000 148000 440000 4093000 30000 1130000 59600 649000 2870000 800000 286700 69100 8030000 1060000 15519000 792000 139700 5443000 51000 63000 36132000 10320000 43000 3674800 130000 174000 97000 253000 12442100 64000 2675000 4915000

469800 34811 454104125 158750 643770 2553310 22430 140120 380116 2545310 1144850 229100 5,293,002( 461322 2248550 104530 16531650 698240 1442870 4889360 201870 45130 119872220 1623490 64200 71823885 33350 280290 263150 484670 416427620 257420 3386720 21181660

SERVICES

ABS CBN GMA NETWORK MANILA BULLETIN MLA BRDCASTING GLOBE TELECOM PLDT APOLLO GLOBAL DFNN INC DITO CME HLDG ISLAND INFO NOW CORP TRANSPACIFIC BR PHILWEB 2GO GROUP ASIAN TERMINALS CHELSEA CEBU AIR INTL CONTAINER LBC EXPRESS MACROASIA METROALLIANCE A METROALLIANCE B PAL HLDG HARBOR STAR BOULEVARD HLDG GRAND PLAZA WATERFRONT FAR EASTERN U IPEOPLE STI HLDG BERJAYA BLOOMBERRY PACIFIC ONLINE LEISURE AND RES PH RESORTS GRP PREMIUM LEISURE ALLHOME METRO RETAIL PUREGOLD ROBINSONS RTL SSI GROUP WILCON DEPOT APC GROUP EASYCALL GOLDEN BRIA PRMIERE HORIZON SBS PHIL CORP

15.72 5.13 0.375 14.5 2148 1194 0.055 2.84 2.76 0.078 2.28 0.188 2.55 9.8 16.8 3.82 52.1 105 13.5 7.05 2.79 2.72 7.16 0.9 0.028 12.02 0.4 912.5 6.37 0.32 2.32 7.9 1.96 1.82 2.51 0.365 7.99 1.75 45.55 68.55 1.31 16.32 0.34 7.3 303 0.232 5.2

15.74 5.15 0.385 15 2170 1196 0.056 3.05 2.77 0.08 2.29 0.19 2.56 9.85 16.9 3.83 52.2 107 13.78 7.06 2.8 2.74 7.17 0.91 0.029 12.98 0.415 949 8.97 0.325 2.33 8 1.97 1.83 2.68 0.37 8 1.76 45.6 70 1.32 16.36 0.355 7.45 337 0.234 5.38

15.8 4.95 0.375 15.28 2120 1142 0.057 2.97 2.8 0.079 2.5 0.195 2.55 9.55 16.9 3.6 53.8 101.9 13.82 7 2.56 2.5 7.23 0.89 0.029 12.02 0.4 900.5 8.99 0.33 2.32 7.56 1.91 1.79 2.37 0.36 7.4 1.66 47.2 68.85 1.36 16.5 0.35 7.6 337 0.24 5.38

16 5.15 0.385 15.28 2170 1196 0.059 3.08 2.85 0.079 2.5 0.195 2.65 9.8 16.9 3.82 55 107 13.82 7.45 2.79 2.72 7.23 0.93 0.029 13.36 0.415 950 8.99 0.33 2.37 8 1.96 1.82 2.69 0.375 8.1 1.76 47.2 70 1.38 16.5 0.355 7.9 337 0.242 5.39

15.5 4.95 0.375 14.5 2110 1142 0.055 2.96 2.67 0.077 2.19 0.185 2.49 9.55 16.8 3.45 48.85 100.8 13.3 6.5 2.55 2.49 7.15 0.89 0.027 12.02 0.4 900.5 8.98 0.31 2.3 7.4 1.91 1.74 2.37 0.345 7.02 1.66 44.8 68.1 1.25 16.26 0.34 7.05 334 0.231 5.38

15.74 5.14 0.385 15.08 2170 1194 0.055 3.08 2.77 0.078 2.28 0.189 2.55 9.8 16.8 3.82 52.1 107 13.34 7.06 2.79 2.72 7.17 0.91 0.028 13.36 0.415 949 8.98 0.32 2.33 8 1.96 1.82 2.68 0.37 8 1.75 45.55 70 1.31 16.32 0.355 7.45 336 0.232 5.39

529700 1703000 170000 2500 62675 225060 43930000 37000 77960000 1980000 12924000 3190000 2384000 156000 1400 4528000 1344110 1857510 1000 25246400 9129000 59000 34100 652000 17600000 2400 350000 440 1100 14820000 136000 19949100 150000 364000 326000 19840000 15400400 8597000 4469300 248380 9041000 2205400 4580000 120400 500 17210000 21600

8312538 8622250 64150 37690 134991720 266513040 2497620 111940 214736530 154560 29752440 600970 6110370 1520175 23590 16711250 70190578.5 194028151 13368 177026095 24428580 150920 244829 591510 493900 29000 143350 411365 9888 4730900 315130 155694906 292850 647690 849830 7199200 117057802 14791280 204143055 17168396 11785010 36057346 1593750 887282 168220 4070360 116364

MINING & OIL

-21603700 -26500 7460 28750 181840 -329940 1,132,234.0001) -2240000 -3336760 17000 -738510 14070 16690 -35200600 25835770 14300 34560 -37605560 6736920 -28413390 29639550 1909870 39000 860750 77440 -86800 222855 141030 -7253998.5 -7307586 3990 -1088057 -1266000 13939407 -19500 173550 20685432 -4157900 3805745 -3289227.5 -2086220 -799510 -

ATOK 9.71 10.12 10.18 10.18 10 10.18 2400 24228 APEX MINING 1.07 1.08 1.07 1.11 1.07 1.08 3082000 3367790 1567410 ABRA MINING 0.001 0.0011 0.0011 0.0011 0.001 0.0011 58000000 61600 1100 ATLAS MINING 1.93 1.95 1.97 1.97 1.93 1.95 27000 52290 BENGUET A 1.2 1.35 1.37 1.44 1.37 1.4 30000 42650 BENGUET B 1.2 1.4 1.14 1.14 1.14 1.14 1000 1140 COAL ASIA HLDG 0.182 0.183 0.182 0.183 0.18 0.183 410000 74420 CENTURY PEAK 2.68 2.71 2.7 2.71 2.7 2.71 306000 827800 422760 DIZON MINES 7.1 7.15 7.13 7.15 7.03 7.15 6100 43354 FERRONICKEL 1.01 1.02 0.96 1.07 0.95 1.02 20223000 20384540 203960 GEOGRACE 0.2 0.206 0.201 0.205 0.2 0.2 300000 60330 LEPANTO A 0.075 0.076 0.076 0.077 0.074 0.075 10350000 776290 LEPANTO B 0.076 0.08 0.076 0.076 0.076 0.076 80000 6080 MANILA MINING A 0.0063 0.0065 0.0064 0.0064 0.0063 0.0063 12000000 75800 MANILA MINING B 0.0066 0.0083 0.008 0.008 0.007 0.007 10000000 75000 MARCVENTURES 0.64 0.65 0.67 0.7 0.65 0.65 868000 578160 NIHAO 1.04 1.07 1.05 1.07 1.03 1.07 213000 225540 NICKEL ASIA 2.08 2.09 2.08 2.21 2.02 2.09 34981000 73256930 12369310 OMICO CORP 0.365 0.38 0.375 0.38 0.375 0.38 90000 33900 ORNTL PENINSULA 0.51 0.54 0.53 0.56 0.51 0.53 333000 174230 PX MINING 2.5 2.52 2.54 2.66 2.5 2.52 619000 1569830 -280500 SEMIRARA MINING 14 14.04 14.4 14.7 13.32 14 4187100 59149372 -1739682 UNITED PARAGON 0.0041 0.0043 0.0043 0.0043 0.0042 0.0042 6000000 25600 ACE ENEXOR 6.91 7.1 6.9 7.5 6.85 7.1 1155900 8253148 -700 ORNTL PETROL A 0.0084 0.0085 0.0086 0.0086 0.0085 0.0085 8000000 68500 ORNTL PETROL B 0.0088 0.0094 0.0086 0.0094 0.0086 0.0088 3000000 26800 PHILODRILL 0.0075 0.0079 0.0079 0.0079 0.0079 0.0079 1000000 7900 PXP ENERGY 5.58 5.59 5.34 5.7 5.16 5.58 4131900 22846915 -117971

PREFFERED HOUSE PREF A 97.55 99 99 99 99 99 4520 447480 AC PREF B1 505 507 504 505 503 505 4360 2196620 AC PREF B2R 500.5 504 500 500 500 500 140 70000 CPG PREF A 100 100.2 100 100 100 100 4500 450000 DD PREF 100 101.1 101.4 101.4 100 101.1 52080 5213391 10000 FGEN PREF G 107.4 107.5 107.4 107.4 107.4 107.4 200 21480 GTCAP PREF A 1000 1020 995 1000 995 1000 3380 3370000 MWIDE PREF 100 100.1 100.1 100.5 100.1 100.1 37960 3803676 PNX PREF 3A 99.2 99.5 99.5 99.5 99.5 99.5 1380 137310 PNX PREF 4 1000 1020 1000 1000 1000 1000 10 10000 PCOR PREF 2B 1030 1045 1030 1030 1030 1030 50 51500 PCOR PREF 3A 1020 1049 1045 1045 1045 1045 5 5225 PCOR PREF 3B 1040 1044 1045 1049 1045 1045 70 73230 SMC PREF 2C 78 78.3 78 78 78 78 500 39000 SMC PREF 2D 75.5 75.9 75.5 75.5 75.5 75.5 2980 224990 SMC PREF 2E 76.1 76.35 76.35 76.35 76.35 76.35 500 38175 SMC PREF 2F 78 78.75 78 79 78 78 58500 4594500 SMC PREF 2G 76.15 76.85 76 76.25 76 76.25 8020 610209 SMC PREF 2H 76 77.25 76 76 76 76 17000 1292000 SMC PREF 2I 77.5 78.5 77.5 77.5 77.5 77.5 840 65100

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 14.98 15 15 15 14.76 14.98 150000 2236954 -1919268 GMA HLDG PDR 4.94 4.95 4.93 4.95 4.92 4.94 262000 1294460 -133660

WARRANTS LR WARRANT 0.8 0.82 0.83 0.83 0.8 0.82 138000 112580

SMALL & MEDIUM ENTERPRISES ITALPINAS 2.14 2.15 2.16 2.19 2.06 2.14 3646000 7800370 217010 KEPWEALTH 7.1 7.11 6.8 7.13 6.8 7.1 204400 1420156 -6980 XURPAS 0.61 0.62 0.63 0.64 0.61 0.62 1923000 1196960

EXHANGE TRADE FUNDS

FIRST METRO ETF 98.5 99.45 98.75 99.9 96 99.45 31930 3139648 -60922.5

www.businessmirror.com.ph

Financial stocks post gains as major economies reopen

F

By Tyrone Jasper C. Piad

@TyronePiad

inancial stocks registered an uptick, along with the local bourse, as investor sentiments remained to be driven by the gradual reopening of the economies.

The financial counter ended in the green on Tuesday, gaining 0.91 percent, or 12.22 points, to settle at 1,352.68.

Shares in the industrial sector surged by 2.72 percent to 8,220.96; holding firms were up 0.39 percent to 6,716.32; services climbed by 2.74 percent to 1,442.52; mining and oil advanced 1.80 percent to 5,470.55; and property inched up 0.30 percent to 3,314.61.

The Philippine Stock Exchange index added 1.07 percent, or 69.84 points, to finish at 6,583.84 while the wider All Shares increased by 0.91 percent, or 36.49 points, to settle at 3,862.09.

Timson Securities Inc. trader Darren Pangan said financial stocks were up on Tuesday after some profit-taking the day before.

“This is on the back of investor sentiment still remaining in a risk-

ERC okays AC Energy power rate

By Lenie Lectura @llectura

T

he Energ y R eg u l ator y Commission (ERC) has approved an appeal of the Manila Electric Co. (Meralco) and AC Energy Philippines Inc. (ACEPH) to implement a power rate of P4.9873 per kilowatt hour (kWh) in their power supply agreement (PSA).

In its 34-page decision, the agency said “the applicable rate shall be P4.9873 per kilowatt hour, not subject to any escalation.”

The rates, said the agency, are “relatively lower, and more stable compared to the rates being implemented in Meralco’s expired PSAs.” “The commission deems it reasonable to adopt the proposed rates of P4.9873 per kWh and P6.48 per kWh at 60 percent and 45 percent utilization, as the rates

to be provisionally implemented in the instant joint application,” the ERC’s order stated.

Also, the approved rates and electricity fee structure of their PSA “is hereby retroactively applied beginning January 30, 2020.”

It can be recalled that when the ERC granted their PSA in December last year, ACEPH was to charge Meralco P4.2366 per kWh. Thereafter, ACEPH filed a motion for reconsideration in February this year. They asked the ERC to reconsider and re-evaluate the rate and to approve the application of the electricity fee structure.

ACEPH told the ERC that approved rates in December last year is different from the price and capacity that it agreed with Meralco in their PSA. At the same time, ACEPH and Meralco asked that the proposed rate be implemented retroactively beginning January 30, 2020.

DOE reports PHL natural gas supply, use in January-May

T

HE country’s natural gas output from January to May this year stood at 36,242 million standard cubic feet (MMcf), data from the Department of Energy (DOE) showed.

Of which, 34,647MMcf was consumed. Natural gas production in the country is mainly consumed by the power, industrial and transport sectors.

The same data showed that 33,827MMcf was utilized to boost the country’s power generation.

The industrial sector took up 820 MMcf. The transport industry recorded zero consumption.

Gas output in 2019 reached 155,495 MMcf last year, up 2.5 percent year on year. Of which, 146,365 MMcf of the total consumption was used in power generation while 2,642 MMcf was for industrial use.

According to the DOE, the country’s natural gas is being consumed domestically. It relies on the Malampaya deep-water gas field.

At present, the Malampaya Deep Water Gas-to-Power project is producing 3,400MW to fuel the gas plants in the country.

Prior to the Malampaya gas facility, the country had the San Antonio gas filed from 1994 to 2008.

However, Malampaya gas is projected to be depleted by early 2022 or latest by 2027.

The Malampaya Deep Water Gas to Power project produces 3,400 megawatts. The gas field in offshore Palawan fuels three natural gas-fired power stations with a total generating capacity of 2,700 MW to provide 30 percent of Luzon’s power generation requirements.

The Malampaya gas field is being maintained and operated by a consortium led by Shell Philippines Ex ploration BV, w ith 45 percent in SC 38; Chevron Malampaya LLC, 45 percent; and state-led Philippine National Oil Co. Exploration Corp., with the remaining 10 percent.

on mode following the reopening of major economies across the globe,” said Pangan.

Regina Capital Development Corp. head of sales Luis Limlingan said the local bourse rose again due to same narrative about easing lockdown restrictions.

“Philippine shares climbed once more as the theme remained the same: lockdown measures eased across all countries and regions, sparking optimism about the potential for economic recovery,” he said.

BDO Unibank Inc.’s shares were the most traded among financial stocks with value turnover amounting to P338.01 million.

This was followed by Security Bank Corp. and Metropolitan Bank & Trust Co. (Metrobank), with traded shares reaching P278.73 million and P220 million, respectively.

BDO shares also registered the

mutual funds

highest gain, climbing by 3.27 percent, or P3.50, to close at P110.50 apiece.

Shares in Bank of the Philippines hiked 0.39 percent to finish at P77.30; China Banking Corp., 1.46 percent, P20.90; East West Banking Corp., 2.28 percent, P8.08; and Union Bank of the Philippines, 2.40 percent, P55.50.

Meanwhile, shares in Metrobank fell by 1.41 percent to end at P42; Philippine National Bank, 0.43 percent, P23.20; Rizal Commercial Banking Corp., 0.62 percent, P19.10; and Security Bank, 3.05 percent, P108.10.

Overall, Ayala Land Inc. shares were the most actively traded with P454.10-million value turnover while Keppel Philippines Properties Inc. stocks booked the highest uptick with 42.33 percent.

Trading ended with net foreign buying of P62.32 million.

June 6, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 212.74 -20.69% -8.23% -4.74% -15.54% ATRAM Alpha Opportunity Fund, Inc. -a 1.0306 -37.28% -13.72% -6.38% -25.43% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8728 -31.5% -12.86% -7.3% -21.9% Climbs Share Capital Equity Investment Fund Corp. -a 0.7286 -23.87% n.a. n.a. -18.78% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6935 -22.81% n.a. n.a. -18.34% First Metro Save and Learn Equity Fund,Inc. -a 4.5591 -18.41% -6% -4.23% -14.44% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7238 -19.26% -8.8% n.a.

-15.21% MBG Equity Investment Fund, Inc. -a 76.55 -37.47% n.a. n.a. -25.92% PAMI Equity Index Fund, Inc. -a 42.9319 -19.5% -6.47% n.a. -16.28% Philam Strategic Growth Fund, Inc. -a 455.49 -17.8% -6.02% -3.87% -14.51% Philequity Alpha One Fund, Inc. -a,d,5 0.9142 n.a. n.a. n.a. -11.25% Philequity Dividend Yield Fund, Inc. -a 1.0737 -20.61% -6.44% -3.44% -16.57% Philequity Fund, Inc. -a 31.6895 -20.14% -5.81% -3.08% -16.38% Philequity MSCI Philippine Index Fund, Inc. -a 0.847 -20.99% n.a. n.a. -16.81% Philequity PSE Index Fund Inc. -a 4.3755 -19.1% -5.9% -2.63% -16.23% Philippine Stock Index Fund Corp. -a 731.78 -18.97% -5.9% -2.84% -16.09% Soldivo Strategic Growth Fund, Inc. -a 0.6637 -29.95% -9.99% -7.06% -22.05% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3872 -23.35% -7.23% -4.08% -19.53% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8405 -19.03% -6.02% -2.76% -16.02% United Fund, Inc. -a 3.0737 -19.64% -4.59% -2.15% -15.87% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 98.2671 -18.73% -5.38% -1.98% -15.98% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9578 0.65% -0.93% -2.25% -6.87% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3571 9.79% 5.33% n.a.

-1.57% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5691 -10.58% -4.23% -3.64% 0.4% ATRAM Philippine Balanced Fund, Inc. -a 2.1206 -9.48% -3.68% -1.63% -2.77% First Metro Save and Learn Balanced Fund Inc. -a 2.4903 -7.1% -1.68% -2.65% -5.37% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1916 n.a. n.a. n.a.

-16.15% NCM Mutual Fund of the Phils., Inc. -a 1.8759 -3.68% -0.59% -0.2% -4.44% PAMI Horizon Fund, Inc. -a 3.5711 -4.72% -1.58% -1.27% -5.75% Philam Fund, Inc. -a 15.9203 -5.82% -1.84% -1.44% -6.13% Solidaritas Fund, Inc. -a 1.9788 -8.74% -2.79% -1.14% -6.92% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4033 -13.07% -3.51% -2.25% -11.92% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9684 -5.34% n.a. n.a.

-4.66% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8885 -13.2% n.a. n.a. -10.83% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8688 -14.97% n.a. n.a. -12.53% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8428 -15.95% -4.43% -3.42% -13.54% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03841 4.72% 2.53% 1.62% 0.47% PAMI Asia Balanced Fund, Inc. -b $0.9726 2.42% 0.37% -0.73% -6.29% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8133 5.42% 3.68% 2.88% -2.49% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.0989 2.17% 1.67% n.a.

-2.65% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 363.94 4.21% 3.01% 2.47% 1.72% ATRAM Corporate Bond Fund, Inc. -a 1.9363 2.55% 0.88% -0.08% 1.8% Cocolife Fixed Income Fund, Inc. -a 3.1821 4.68% 5.15% 5.11% 2.11% Ekklesia Mutual Fund Inc. -a 2.2785 4.98% 2.74% 2.21% 2.4% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4319 6.43% 3.19% 1.88% 3.09% Philam Bond Fund, Inc. -a 4.5486 10.88% 3.89% 2.29% 4.02% Philam Managed Income Fund, Inc. -a, 6 1.2879 6.77% 3.89% 2.11% 2.48% Philequity Peso Bond Fund, Inc. -a 3.9231 7.82% 4.16% 2.16% 3.56% Soldivo Bond Fund, Inc. -a 1.0233 10.03% 3.39% 1.58% 6.12% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1501 7.79% 4.7% 2.86% 2.41% Sun Life Prosperity GS Fund, Inc. -a

1.7348 6.91% 4.13% 2.37% 1.98% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $472.23 3.48% 2.42% 2.59% 0.86% ALFM Euro Bond Fund, Inc. -a Є215.03 -0.53% 0.57% 0.86% -2.14% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2135 3.44% 2.67% 2.31% 0.52% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 2.36% 1.45% 1.2% 0.78% PAMI Global Bond Fund, Inc -b $1.0645 -1.25% -0.35% -0.03% -2.8% Philam Dollar Bond Fund, Inc. -a $2.428 5.74% 3.05% 2.81% 1.01% Philequity Dollar Income Fund Inc. -a $0.0602707 2.64% 1.83% 1.73% -0.07% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1661 4.45% 2.01% 2.2% -0.29% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 127.73 3.79% 3.13% 2.37% 1.55% First Metro Save and Learn Money Market Fund, Inc. -a 1.0397 2.66% n.a. n.a.

1.31% Sun Life Prosperity Money Market Fund, Inc. -a 1.281 3.27% 3.03% 2.56% 1.3% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0439 1.7% n.a. n.a.

0.65% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.93 n.a. n.a. n.a.

-6.06%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund).

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Entrepreneur

Valenzuela firm provides jobs to needy families in time of Covid

F

ighting the virus pandemic has also seen the emergence of innovative ways on how to help the needy.

Taking a cue from the Oscar Awards-winning film Parasite, Splash Corp. took a novel approach in helping communities in need. In the South Korean flick, a family was given an opportunity to work by assembling cardboard boxes for a pizza business.

In their own real-life version, Splash Corp. enlisted the services of around 40 families living near their Valenzuela plant to put stickers on the bottles of Hygienix Alcohol and Hand Sanitizer.

This has enabled Splash to keep up with a spike in the demand for these Covid-19 essentials and, at the same time, provide families a way to earn a living, while quarantined at home.

Resident Cielo Reponte, whose family was one of those contracted for the sticker work, expressed her gratitude to Splash. “Kami po ng aming pamilya ay taos pusong nagpapasalamat sa binigay ninyong oportunidad. Dahil dito kahit papaano ay meron kaming napagkakakitaan.”

Janet Cortez, another resident, echoed the same sentiment: “Nang dahil po sa inyo meron po kaming pinagkakaabalahan kahit nasa bahay lang po kami. Lalo na ngayong sa krisis na ating kinahaharap, malaking tulong po iyon sa amin sa pangarawaraw naming gastusin.”

Another worker, who chose to remain anonymous, is thankful for the livelihood provided by Splash.

She says: “Isa po ako sa mga worker na ‘no work no pay.’ Maraming salamat po dahil ako ay kumikita kahit nasa bahay lamang.”

Apart from providing livelihood, some 18,000 families situated in four barangays near the Splash Plant also received around 180,000 pieces of soap packs from the company. The barangay chairmen of Barangay Paso de Blas, Barangay Canumay West, and Barangay Mapulang Lupa personally accepted the donations for their respective barangays.

Splash executives also paid Valenzuela Mayor Rex Gatchalian a courtesy call prior to their recent donation of 1,200 gallons of Hygienix Alcohol, 1,200 bottles of Hygienix Liquid Hand Soap and 67,000 pieces of soaps for use by the city’s hospitals and frontliners, and for distribution to the constituents of Valenzuela.

Neeraj Khatri, chairman and chief executive officer of Splash Corp. says in a news statement, “Splash Corp. is committed to helping in the fight against Covid-19.

Since the start of the quarantine period, we have faced challenges but have continued to manufacture essential Splash products like alcohol, soaps, and hand sanitizers. We have also looked at how we can help our community and agreed that providing alcohol and soap products to the LGU (local government unit) of Valenzuela and barangays near our plant is the best way to fight the spread of Covid-19 by promoting handwashing and hygiene.”

Ms. Vicci Tomas, president and chief executive officer, also adds, “All units of the organization are working hand in hand in this uncertain time and are looking at creative ways on ensuring that Splash products are consistently accessible and available to our consumers.”

The Covid-19 pandemic has brought about challenges and changes unheard of and unknown in the country’s history. Nevertheless, private companies like Splash have stepped up in lending its hand to communities during these very trying times. Rizal Raoul S. Reyes

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, June 10, 2020 B3

Workspace industry player keeps optimistic outlook amid pandemic

By Rizal Raoul S. Reyes

D

@brownindio

Contributor

espite the global economic impact brought about by the Covid-19 pandemic, there’s still a silver lining behind the cloud as far as the workspace industry is concerned, according to the owners of a local workplace company.

“We still see a number of opportunities for the flexible workspace industry. We believe that social distancing will force many buildings to restrict, or only allow 40 percent to 50 percent of people to return to their buildings once the lockdown has been lifted, or until we find a vaccine,” Acceler8 coowners Mikko Barranda and Carlo Coronel told the BusinessMirror in an e-mail interview.

Since a viable vaccine against the virus is still in the process of development, many companies would likely be forced to implement a work, or temporarily lease space, from flexible operators until they can return to normal.

Start-up surge

Barranda and Coronel both agree there will be a surge of more startup companies after the pandemic, whether these are related to cloud kitchen, e-commerce, and technology related companies. Aside from the emergence of new demographic of tenants for flex operators, Acceler8 thinks companies will be proactive and look into investing in business continuity sites, or satellite offices, that are flexible and can be used in cases of emergency.

“From a community point of view at Acceler8, we have now shifted our efforts to virtual and have seen that community building can be achieved for as long as we continue to generate content, opportunities to connect

and regular check-ins,” they say.

Redesigning space

IN terms of their efforts in design efficiency and safety measures, Barranda and his team are working on redesigning their open spaces by lowering down the seating capacity to observe proper social distancing.

Acceler8 will also provide additional safety measures like implementing one-way passages for hallways, putting visual cues for common areas that may be “hot spots” like the pantry and water dispenser section, making sure that there are ample gaps for cleaning in between usage of meeting rooms and moving toward more contactless human interactions.

For marketing and adding service offerings, Coronel says they will be repackaging the plans they offer. It has also focused its efforts by offering their serviced office suites as a business continuity plan option. Coronel believe this will address the need for companies to provide a conducive and secure workspace for their teams as buildings and offices reduce the allowable headcount.

Hybrid service

Since Acceler8 is forecasting that a number of their members will be working from home, the group intend to provide a hybrid type of service that will infuse the virtual office plan and coworking service.

Acceler8 Rockwell Center serves the mobile professionals who need a workspace in the Rockwell area. Aside from Rockwell Center, the company also has branches in Salcedo Village and Legazpi Village in Makati City.

According to Barranda, the virtual office plan will give a member a business address, call answering service, meeting room hours and mail handling service.

“This will be a good service mix for people that are hesitant to go out. These options will help companies maintain their usual office functions at a fraction of the cost,” Barranda says. Aside from providing all the safety measures to their members, Coronel says, Acceler8 is quite aware of the importance of adhering to government protocols on physical workspaces and it is their social responsibility as a business to help fight the further spread of the virus as well.

Moreover, Barranda points out they have to maintain the community’s trust too in providing a clean and Covid-free workspace and that would mean new and innovative policies in the workspace. With this

London university forms start-ups to boost coronavirus vaccine devt

I

mperial College London is setting up a new enterprise to distribute a potential Covid-19 vaccine at a lower price.

The British university, together with partner Morningside Ventures, will waive royalties and charge only “modest cost-plus prices” to sustain the enterprise’s work, according to a news statement issued on Sunday. The enterprise will be called VacEquity Global Health.

Another company, VaXEquity, is also being launched to accelerate the manufacturing scale of the vaccine.

“These new enterprises are the most effective way for us to deliver Covid-19 vaccines quickly, cheaply and internationally, while preparing for future pandemics,” said Professor Robin Shattock, head of mucosal infection and immunity at Imperial and co-founder of the two companies.

Imperial College says it has received more than £40 million ($51 million) of public money to develop the coronavirus vaccine, and £5 million from donors. The vaccine is to enter phase one/two human trials on June 15. Bloomberg News

Splash Corp. taps around needy 40 families near their Valenzuela City plant to put stickers on bottles of Hygienix Alcohol and Hand Sanitizer. Rizal Raoul S. Reyes

development, their product development and services may also need to be pivoted to cater to the market’s demand.

“New services may need to be made so coworking operators can address how we can continually provide value to our members, even if their companies adopt a work-from-home setup,” he says.

Acceler8 also plans to provide services to people who don’t step in an Acceler8 facility. “Eventually, we will offer plans for teams and companies that have fully adapted to remote work set up,” Barranda says.

In terms of the work from home setup, Barranda sees there is a need to look at this from a local standpoint and consider the worker demographic and nature of business of each company. While some may adapt to this setup, there are still a lot who don’t have the same luxury due to poor living conditions.

Other factors

“Unfortunately, a large part of our work force is not equipped with the basic home necessities such as proper ventilation, air-conditioning, sufficient bandwidth/connectivity, secured environment, or even just personal space free from distractions,” he explains.

Also, data privacy issues would have to be factored in as some companies that are involved in finance or health care would have very strict protocols on security.

“With that said, we believe that work-from-home will be adapted by some companies but for others this will be a temporary measure until they can go back to the way of doing business,” Barranda says.

“The lockdown has provided companies time to reflect, recollect and reassess workplace strategy and how to shift from brick and mortar processes to more a digital one,” he adds.

Study reveals urgency for businesses to leverage on technology to improve customer experience

By Roderick L. Abad

@rodrik_28

Contributor

C

USTOMERS are always the top priority of businesses in their strategies. This holds true for small and medium enterprises (SMEs) in the retail and hospitality industries in Southeast Asia as they focus on providing them with a unique experience.

Based on Epson survey of 864 SMEs in the six of the largest Asean member-countries, companies in the region have significant ground to cover to enhance clients’ perceptions of their experiences as they rank such at an average of 50 percent of the potential score.

In fact, they shared that handling customer experience was among the top five business challenges they dealt with. No wonder retail and hospitality sectors lead in digital transformation. Per the study, 64 percent of respondents in these fields were initiating digitalization in the area of customer interaction, a far higher priority for them than new product development, or production processes.

Companies that are slower to embrace technologies that can link with other devices and software applications will have a more difficult time connecting with customers. Hence, it’s high time for them to start making wise investments in technologies that will enable them to deliver the experiences expected by their clients so as to endure tough competition in the market.

Customization of services and experiential, event-based shopping setups are among the key trends that influence customer spending and preferences in Asia at present. Web-based patrons expect a richer and more interactive shopping experience, with more available

channels and a broader range of products, services and payment options during their purchasing journey.

These call for brands to work much harder to attract and retain their customers’ attention. Retailers and food and beverage operators should build more agile business processes that maximize technology to enrich customer experience and create data insights that analytics can convert into lasting value.

To give richer experiences to clients, SMEs can utilize the newest printing and projector technologies to make stores, marketing displays and product labels different from others.

Laser projectors can make stunning signage, displayed on walls, floors and ceilings to engage and inform customers. Using in-house label printers, retailers can create on-the-spot personalized packaging of their products for a customized experience.

What’s more, smart point-of-sale (POS) printers with wireless connectivity allowing staff to serve patrons anywhere in the store can enhance interactions with them, thus, strengthening the brand’s quality. These equipment can even print directly from Web applications for online purchases and food orders, lessening wait time and proving a smooth, positive experience.

Across the region, SMEs are realizing that positive customer experiences can have an impact on revenues. It has been shown that when brands focus on the experience of clients, their topline grows by an average of 23 percent.

Indeed, effective use of the right technologies at the retail front during the POS can help brands innovate and differentiate themselves from the competition. So it’s better for businesses to invest now to achieve their respective goals.

B4

Show BusinessMirror

Wednesday, June 10, 2020

www.businessmirror.com.ph

Gabrielle Union files complaint against NBC, ‘America’s Got Talent’ DNA TEST NEEDED

THE starlet is practically an unknown except for the fact that her boyfriend used to be a big star. The boyfriend has a child with another woman, and the starlet is so insecure that she wants his daughter to take a DNA test (which he can’t afford, by the way) so she can prove paternity. This is quite hilarious, actually, because the starlet’s boyfriend does not even support the child. The kid’s mother does not depend on him as she has a job. The actor is broke so there is no reason for anyone to go after him. The kid’s mother has long moved on and has no desire to be a part of the actor’s life. It’s funny that the starlet still thinks her boyfriend is a big deal, and that she’s still insecure about their relationship. But then, she’s always been that way and this is why the actor’s friends and coworkers dislike her.

A GOOD HEART

WHOEVER is advising this controversial celebrity about her online persona and decisions should be given a raise. The celebrity is no stranger to bashers.

So many people love her but even more people attack her for, well, just being herself. But her advisers have managed to twist her every misstep into a public relations triumph. After every debacle, the actress emerges with a better public image. The truth is that the actress isn’t really problematic. She’s actually a very good person. The only issue with her is that she was born privileged and has never had to worry where her next meal will come from. Thus, some of her actions might seem insensitive. But she really is a person with a good heart for helping others.

BUYING FOLLOWERS

IT’S not a secret that if you want to be popular online, you can pay for more followers and subscribers, and this is what’s happening right now. This is why there is a deluge of influencers and content creators who people barely know. Yet, they have tens of thousands of followers and/or subscribers, sometimes even more than actors and actresses. So do you want to know if your favorite influencers have “bought” followers?

Check the number of likes and engagements in connection with the account’s followers. An account with over 50,000 followers should have at least 1,500 likes and many comments on every post on Instagram. Sometimes it is incredible that one account with so many followers barely get comments under a post unless there is a giveaway and the followers have to say something. Also, look at the profile of the account’s followers. You’ll see right away there is something off.

ALWAYS PUSHY

SO the pushy girl tried to become close friends with feisty senior star. Pushy girl started texting senior star, who is known for her beautiful face, several times a day like they were good friends. Senior star was uncomfortable with it and she made it known via a mutual work associate. Despite this, the girl continued to message the senior star. There came a point when the pushy girl started dressing like her idol, which everyone found creepy. She always said she wanted to be like the senior star, who is not the friendliest person but can be civil and almost friendly if she needs to be. This is someone she would be civil with because she has to. Unfortunately for the senior star, they belong to one network.

L

By Andrew Dalton The Associated Press

OS ANGELES—Gabrielle Union filed a complaint on Thursday with the state of California against NBC and the producers of America’s Got Talent (AGT), the latest move in a fight over her allegations that she was fired for objecting to an on-set environment that tolerated racism. The complaint filed with the Department of Fair Employment and Housing says Union was harassed and discriminated against because of her race, and experienced retaliation for reporting these problems.

The document enumerates previously reported issues that Union, who is black, had with the show’s acceptance of racist jokes and remarks from judges, and cites criticism she received about her hair during tapings.

“Union, a black woman, was singled out due to her physical appearance and discriminated against by NBC due to the fact that her hair did not fit within the white image that NBC apparently sought to convey to the audience of AGT,” the complaint states, adding that a network executive and a show producer “informed Union’s manager that her hair was ‘too wild’ and that it needed to be ‘toned down.’”

The complaint also contains new allegations that NBC Entertainment Chairman Paul Telegdy called Union’s agents to issue unspecified threats, shared confidential information on the controversy with celebrities that the show was looking to hire, and sought to undermine an investigation of Union’s issues.

“The allegation that anyone involved in this process threatened Ms. Union is categorically untrue,” the network’s parent company NBCUniversal said in a statement. “We took Ms. Union’s concerns seriously, and engaged an outside investigator who found an overarching culture of diversity on the show.”

That outside investigation commissioned by the network and producers, whose results were announced last week, found Union’s allegations were unfounded, and had no bearing on the decision to drop her as a judge. The review acknowledged unspecified “areas in which reporting processes could be improved.”

Union, known for her roles in the films Bring It On and Bad Boys II, appeared on the talent showcase for a season, until she and fellow freshman judge Julianne Hough weren’t asked to return.

Union’s attorney Bryan Freedman says the “racial

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Kate Upton, 28; Leelee Sobieski, 37; Shane West, 42; DJ Qualls, 42.

Happy Birthday: Timing is everything. Refuse to let uncertainty set in when continuity, precision and decisiveness are required. How you handle situations, your associates and doing what’s right will determine what you get in return. You’ll have more discipline and understanding when it comes to seeing matters through to the end. Distance yourself from those who waffle or try to manipulate you. Your lucky numbers are 9, 14, 21, 24, 32, 37, 44.

a

ARIES (March 21-April 19): Be part of the solution, not the problem. Set guidelines for everyone involved. Take physical action to ensure you practice what you preach. Don’t feel you have to go overboard to appeal to the masses. Keep your plan simple. HHHH

b

TAURUS (April 20-May 20): Keep your emotions out of the equation when making tough decisions. Don’t let a last-minute change of plans disrupt your routine or ability to finish what you start. Practical applications are favored when trying to bring about change. HH

c

GEMINI (May 21-June 20): Pay closer attention to health, diet and exercise. Refuse to associate with people who want you to get involved in excessive behavior or go against rules and regulations.

Knowledge is a valuable commodity. Gather firsthand information. Romance is on the rise. HHHHH

d

CANCER (June 21-July 22): Take note of the way others do things, and implement any technique you feel will help you progress faster. Getting the feel for something that will encourage greater knowledge and experience will lead to an interesting opportunity. HHH

e THIS March 11, 2019 file photo shows Gabrielle Union at the America’s Got Talent Season 14 Kickoff in Pasadena, California.

Union has filed a complaint with the state of California over her firing from America’s Got Talent. AP

bullying” she received stands in contrast to the network’s recent statements about being outraged by racism and standing with Black Lives Matter.

“When Gabrielle Union informed NBC of racially offensive conduct during the taping of America’s Got Talent, NBC did not ‘stand’ with her in ‘outrage at acts of racism,’” Freedman said in a statement.

“Instead, NBC did not care enough to either promptly investigate Ms. Union’s complaints or even ask HR to get involved. Rather, NBC stood against her and directed its “outrage” at Ms. Union for whistleblowing about the racially offensive conduct she experienced.”

NBCUniversal’s statement says the company “remains committed to creating an inclusive and supportive working environment where people of all backgrounds are treated with respect.” n

Will of ‘Tiger King’ star’s missing husband forged TAMPA, Florida—Someone forged the will of the missing husband of Carole Baskin, a woman prominently featured in Netflix’s Tiger King documentary series, a Florida sheriff said.

Hillsborough County Sheriff Chad Chronister told 10 Tampa Bay on Tuesday that two experts had confirmed the will of Jack “Don” Lewis is a forgery. Lewis disappeared in 1997 and was declared dead in 2002. The millionaire’s will left most of his estate, including a private Tampa zoo that would eventually become Big Cat Rescue animal sanctuary, to Baskin, cutting out his children from a previous marriage.

Criminal charges aren’t expected because the statute of limitations has expired, Chronister said.

“The will had already been executed at that point,” Chronister said. “But, it certainly cast another shadow of suspicion, by all means.”

Lewis’s disappearance remains an open case. In March, Chronister announced that the sheriff’s office was seeking new leads following the popularity of Netflix’s Tiger King:

Today’s Horoscope

Murder, Mayhem and Madness.

The documentary is about Joseph Maldonado-Passage, also known as “Joe Exotic,” a former Oklahoma zookeeper who loves guns, younger men, and big cats. He was sentenced earlier this year to 22 years in prison for his role in a murder-for-hire plot. He was convicted of trying to hire someone to kill Baskin, who had tried to shut him down, accusing the Oklahoma zoo of abusing animals and selling big cat cubs. In retaliation, Maldonado-Passage raised questions about Lewis’ disappearance. The documentary extensively covered Maldonado-Passage’s repeated accusations that Baskin, killed her husband and possibly fed him to her tigers. Baskin, who founded Big Cat Rescue, has never been charged with any crime and released a statement refuting the accusations made in the series.

On Monday, a federal judge in Oklahoma awarded ownership of Maldonado-Passage’s former zoo to Big Cat Rescue Corp. as part of a civil judgment. AP

LEO (July 23-Aug. 22): Don’t let uncertainty or stubbornness stand in your way. Size up situations, and make a decision. Trust in what and who you know, and do what comes naturally.

A partnership will need nurturing, along with minor adjustments. Self-improvement is favored. HHH

f

VIRGO (Aug. 23-Sept. 22): Be open about what you want and willing to make compensations to get your way. Finding a way to work with others will make your life easier. Walk away from anyone who isn’t willing to give something in return. HHH

g

LIBRA (Sept. 23-Oct. 22): Look at the broad scope of whatever situation you face, and pick and choose what works best for you. You can’t make decisions for others, but you can follow a path that will lead to a better future. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Troubles will arise if you are dealing with older relatives or domestic problems. Take an intelligent approach, and you will come up with a unique solution that will satisfy everyone’s needs. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): Question anything that doesn’t sound or appear to be accurate. Staying on top of the information you are given and verifying the source and facts will help you avoid making a mistake. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): Look into the past, and call on the experience that will help you make the wisest decision regarding a personal or professional situation that needs to be addressed.

Balance, integrity and making the most out of what you’ve got are favored. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Don’t stop until you excel. Whether it’s home or personal improvement you are trying to achieve—or correcting a mistake that could cost you financially— discipline and hard work will promote success. HHH

l

PISCES (Feb. 19-March 20): Stick to what you know. If you try to impose your will on someone, you will face opposition. Use knowledge, charm and persuasive tactics to get your way. Avoid making premature alterations to your living arrangements. HHH Birthday Baby: You are disciplined, patient and inventive.

You are clever and persuasive.

‘moving right along’ by caitlin reid The Universal Crossword/Edited by David Steinberg

ACROSS 1 Big game species 4 Lasting impression?

8 Dog command that’s the opposite of “Come!”

12 Fallback option 14 Finger-wagging phrase 15 Place for a piercing 16 Adjust the fit of 17 Low female voice 18 ___ place (“8,” for “18”) 19 Baptism or wedding 22 Lower digit 23 Clever humor 24 Exchanged 27 Unofficial poll 31 Foe 32 Slangy pet name 33 “___ volunteers?”

35 Wolfed down 36 Deduction on an IRS form 40 ___ Wednesday 42 Give in to gravity 43 Night before

4 Primitive fishing tool 4 47 Faded, as fabric 52 Became furious 54 Golf benchmark 55 Prefix related to mono 56 One half of a noted aviation team 60 Move to tears, say?

62 In the near future 63 “Yup” 64 Rubs the wrong way 65 One of 52 in a deck 66 ___ Dame 67 Robin’s residence 68 Praising poems 69 Comforting touch DOWN 1 Mama Cass 2 Former’s counterpart 3 Proposal joint 4 Suddenly become attentive 5 Coca-___ 6 Tiny home invaders 7 Hen’s perch 8 “Just Do It,” for example

9 Insensitive 10 16th prez 11 Hoped-for proposal answer 12 Components 13 Treatment for upper facial hair, informally 20 Journalism basics 21 “Where ___ you?”

25 Lifesaving fig.

26 Make blue, say 28 Org. for lawyers 29 Subarctic forest biome 30 Sleep apnea doc 34 Rodeo cry 36 “Everything” pizza order 37 Beyond rare?

38 Infested, as with weeds 39 Placed coins into 40 Long-eared animal 41 Business offering a 13-Down 45 Put handcuffs on 46 Cause to go “vroom” 48 Enjoys a shopping spree 49 “Why I ___...”

0 Not injured 5 51 Churchgoer’s contribution 53 Late 1970s dance music 57 Laundry unit 58 What you might pass on 59 All-day breakfast chain 60 Storage container 61 Valuable vein contents Solution to yesterday’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Wednesday, June 10, 2020

Loud and clear I

N times of overlapping changes, a leader needs to ensure everyone is aligned with what is expected of the team. Moreso when your team is working remotely, and you do not get to spend so much time together and the only interaction you have is via e-mail, calls, regular team meetings, or the occasional web conference. Leaders need to be creative in communicating to ensure that their teams know what the deliverables are and when they are due.

In a previous organization, my leader asked me to meet with a new team which fell under his supervision. The only issue was that they were in Spain. What made it more difficult was that the only one who could speak English fluently was their manager. And since they were aligning themselves with the processes we followed, I had to walk them through the process we used. We had to set several meetings to get them aligned and for them to understand our processes; at the same time, we shared best practices and compared notes on production lead times and our creative processes.

From that experience, I gained so many insights in communicating to others in a remote work setup.

One of the most important things I learned was setting clear expectations and directions. Since we were both managers, we both understood our final product and what needed to be accomplished. Our executive also made it clear several times what we needed to accomplish, and we had to put our heads together to come up with a better way of developing our product in the shortest time possible. As a leader, your team needs to understand clearly what the goal is and what is expected from them—as a team and as individuals.

You need to speak of your goal clearly that your team understands it as if it has already happened.

This also means that each member of the team is clear on what they need to do and how they can contribute to achieving the team’s goals. Since I did not know her team members well, she was the one who identified what they were good at and what they could possibly offer to make the work faster and smoother. As a leader, you cannot do that unless you know your team.

I think part of the reason why they were able to adapt to the new process quickly was because she knew her team members and she positioned them so they could take advantage of their strengths. It became easier for her also to explain what was needed of them and the goals of the team.

And when I was walking her through our processes, she was very receptive and she even gave several recommendations on improving the existing process. As a leader, we need to be open to team members, and allow them to speak and give their suggestions and recommendations. If the goal is clear, you can always manage and redirect the

Leading and communicating with remote teams can be a bit of a challenge but making your team understand what needs to be done and providing feedback regularly will go a long way in ensuring they will get the work done even if you are not around. As John Maxwell said, “Anyone can steer the ship, but it takes a leader to chart the course. Leaders who are good navigators are capable of taking their people just about anywhere.” discussion into how to achieve that. And if their ideas help in achieving the goal, we must allow them the opportunity to try their idea. As leaders, we need to provide a safe space for team members to be creative in how they solve problems and even come up with new ways of achieving goals. And we always need to praise their effort because this will reinforce a growth mindset where they continue to push themselves to be better.

One thing I also learned is to give regular feedback.

Since I could not see them personally, I tried to meet with the Spanish team’s manager regularly so I could see where she was struggling. Everyone struggles at the start of something new and this is when communication is most crucial. You need to give regular feedback so they can attune themselves to the changes and recalibrate when necessary. You need to

be able to coach on demand. You do not need to wait for the annual evaluation for you to correct a mistake when you can do it now. It will also be easier for the team member to correct themselves because the mistake is recent and they could still do something about their mistake. And, again, praise the effort in correcting their mistake.

Remember to set aside time with team members individually so you can get to know them better. It does not always have to be in a regular setting, but do take the time to sit with them during lunch or even spend a few minutes catching up on their personal life. This will help you get to know them better and, at the same time, you will have a better understanding of their personal motivations. Spend time also with your team as a group so you can understand the team dynamics and how each one relates to others. This

will give you an idea on who to tap for which projects.

One of the things which also helped me in dealing with a remote team is acknowledging their efforts in aligning themselves to the new process. It took a few tries but we were able to come up with a process where even if we did not meet face to face, we were able to review materials and give our feedback and suggestions. And by being receptive to feedback and maintaining open lines of communication with one another, it became easier for us to understand where each one was coming from and adjust our process to overcome difficulties and improve our product.

Most of all, you need to lead positively. You do not have to know everything but in times of change, your team will look to you as a beacon of where the team is headed. One of the concerns of the Spanish team was their job security since there were major reorganizations that happened in the company.

But our head was confident that they were needed by the whole organization and the work we did was vital to the growth of the company. That encouraged both teams. As a leader, you need to provide the hope and security people need so they can continue doing good work.

Leading and communicating with remote teams can be a bit of a challenge but making your team understand what needs to be done and providing feedback regularly will go a long way in ensuring they will get the work done even if you are not around. As John Maxwell said, “Anyone can steer the ship, but it takes a leader to chart the course. Leaders who are good navigators are capable of taking their people just about anywhere.”

Where are you taking your team? n

Trust in the workplace

By Rizal Raoul S. Reyes TRUST is a workplace “vaccine” that will ensure the productivity and efficiency of workers, according to two multinational service firms cited recently as among the top 5 workplaces by Great Place to Work Philippines.

Business-process outsourcing company Synchrony Global Services Philippines, a subsidiary of premier consumer financial services company Synchrony, immediately responded to the outbreak of the situation.

Michael Zolin, CEO of Synchrony Global Services Philippines, said the senior management swiftly went into action securing hotel rooms for employees in Manila and Cebu, within walking distance from their sites so that people could come to work. Moreover, financial stipends, transportation and daily meals were offered for employees.

The company also provided 1,000 work-at-home kits to Manila-based employees, while 500 were deployed in Cebu. These included computers, headsets, monitors, cables, and prepaid Internet router.

“This whole work-at-home thing has brought the best out in our people. We’ve accomplished more technologically in the last six weeks

than we have in the last 16 years.

People are moving at the speed of light to make things happen, and I think we’ve proven now that you can actually do call center work as a workat-home option,” Zolin explained in a press statement.

Arturo Tolentino, the AVP for Human Resources of Synchrony Philippines, added that trust among employees and management bonded them during the crisis—even through the smallest of gestures. “A lot of our people started these text messages of support, thanking our people who were in the hotel that they are our heroes, and that we are also able to do work-at-home, they’re keeping the business running.”

Tolentino said trust also enabled the company to handle the mental pressures of a contagious disease bearing down on the work force.

“Being in quarantine, among the biggest issues was maintaining mental health. We were trying to figure out how we could minimize infecting one another. So we enforced zoning, not just physical distancing.

We also made sure that we constantly sanitized specific areas in the office.

Then we maintained an onsite clinic to ensure that our employees received proper medical support,” he cited.

Zolin added that peace of mind

was achieved when management assured the employees their jobs were secured. “We made the decision that our people would continue to get paid even if they worked at home, and that we were not going to lay anybody off. We may be dealing with a deadly virus, but our people continue to work with smiles on their faces and songs in their hearts.”

For Ingram Micro Manila Global Business Services Center, the need of its 2,400 employees to be with their families was the top priority when the Philippine government announced the implementation of the Luzon-wide enhanced community quarantine in mid-March.

Vigor Amador Jr., Ingram Micro executive director, said the management made it a priority to their employees to be with their families in these challenging times.

“We started with preparations for the business continuity plan as soon as the Covid-19 cases began escalating and impacting different countries.

The intent was to send people home so that we didn’t expose our employees to any untoward risk. We made that conscious decision to say that they had to be with their families as we went through the community quarantine,” Amador said in a press statement.

Everyday LifeWear essentials THE times may be hard. But who says style can’t be easy?

Japanese global apparel retailer Uniqlo (www.uniqlo.com/ph) is committed to its LifeWear philosophy of providing high quality, easy-to-style, comfortable clothing.

Created to be worn by all, the brand’s T-shirt collection provides a range of silhouettes and design that suit any lifestyle.

Uniqlo constantly innovates the basic T-shirt to produce the perfect tee for every occasion. Every piece is carefully crafted with the highest quality material and thoughtfully designed, bringing comfort and style to its

wearers. With various colors, cuts, and style options, the brand offers a collection of staple tops through the its T-shirt collection.

The collection features the U Crew Neck T-shirt, Supima Cotton T-shirt, Striped T-shirt and Random Ribbed Crew Neck T-shirt.

Rooted in the Japanese values of simplicity, quality and longevity, Uniqlo has always redefined what it means to have simple but effortlessly stylish clothing. The T-shirt collection offers the highest quality material that can withstand any wash—bringing longlasting and comfortable pieces to the lives of consumers while making them affordable.

B5

B6 Wednesday, June 10, 2020

OYO launches sanitized stays in the Philippines Jollibee reopens its doors for customers; sets the bar for quality standards for safety and cleanliness

Employee Temperature Check

Door Sanitation

T

ODAY, as the world adapts to a “new normal” due to the global pandemic, the country’s number one fast food chain Jollibee has been gearing up to go the extra mile to ensure the safety of its customers while continuing to deliver quality food and service.

As Jollibee re-opens more of its stores and resumes dine-in services in select areas, it has intensified the implementation of safety measures and sanitation protocols for its employee and customers.

The customer safety journey starts with the crew and store preparations. All store team members are required to have their temperature checked prior to entry, and while inside - are mandated to wear full protective gear, observe physical distancing, and practice regular handwashing and sanitation. The entire store – including store fixtures and utensils – undergo intensive cleaning and sanitation before, during and after business operations. Team members are also given vitamin supplements to boost their immune system and telemedicine support to immediately attend to their health needs. This will ensure that they are all healthy and fit to provide the best service to customers, the Alagang Jollibee way.

Customers go through a 3-step safety check before entering the store: one stepping on disinfectant mats; two – strict wearing of face masks and three – checking of temperature. Door handles, and other store fixtures and surfaces are disinfected every thirty (30) minutes. For stores with Self-order kiosks or SOKs, they make sure

that these SOKs are also sanitized before and after use. Stringent safety protocols are also in place for food preparation and handling.

Jollibee has also installed counter guards at the main counter as an additional safety precaution for customers and cashiers during order taking. The counter guards will soon be available in all Jollibee stores nationwide. In addition, it plans to install table guards on dining tables as an additional safety measure for dine-in customers. Jollibee has also placed markers across their entire store layout – from floor markers, table markers, to seat markers so customers are consistently guided to maintain at least 1-meter distance when queuing and 2-meter distance for dine-in.

To make sure all protocols are properly adhered to, Jollibee has assigned official Alagang Jollibee Hygiene Ambassadors in every store. They take the lead and oversee the strict implementation of safety precautions, such as wearing of safety gear, physical distancing, no-touch and cashless transactions, and intensified cleaning and sanitation.

Jollibee has also dedicated a priority lane for frontliners, giving medical and healthcare workers, police and military personnel, and other people involved in providing necessities and essential services, with preferential access when ordering in stores.

As a way of welcoming back diners to its stores while ensuring them that their safety remains the brand’s top priority,

Jollibee has released a video entitled “Beeda ang Safety at Saya”. In true Jollibee fashion, the video captures the high level of safety standards that Jollibee adheres to – from safety checks for employees and customers, to cleaning and sanitation measures and in-store safety signages and markers. All of these measures are in compliance with the health protocol guidelines set by the Department of Trade and Industry for dine-in restaurants and fastfood establishments.

“We pride ourselves with our high standards of quality, safety, and cleanliness. And now as we transition to a new normal, we further intensified our safety protocols to ensure that the safety and welfare of both our employees and customers will continue to be prioritized.

As we strive to bring joy through our food during this challenging time, rest assured that we will take care of our customers and people in the best possible way,” said Ferns Yu, Jollibee Philippines President.

This same high standard of safety is also applied to Jollibee’s Delivery service, wherein measures such as intensified sanitation, physical distancing and no touch transactions have been implemented since the start of the ECQ period.

Watch Jollibee’s Beeda Ang Safety at Saya video here as featured in Jollibee’s Facebook page (https:// www.facebook.com/JollibeePhilippines/ videos/540996766574534/) and YouTube channel (https://www.youtube.com/watch?v =QX64tBjRkwM&feature=youtu.be).

Saving children through stories

Save the Children staff reading a story to children staying in an evacuation center in Sorsogon during a humanitarian response for families affected by Typhoon Kammuri last December 2019. Photo by Lei Tapang/Save the Children

S

TORIES can be life changing for children especially to those left out as they live in poverty, marginalization, and threats of the COVID-19 pandemic.

To address these, Save the Children Philippines is launching the ‘Save With Stories’ campaign, a series of storytelling sessions with local celebrities who aim to raise awareness on the importance of continued education using alternative learning methods through online, TV, and mobile platforms.

Atty. Alberto Muyot, Chief Executive Officer of Save the Children Philippines, said learning is critically important for children, especially during the pandemic.

It provides normalcy, routine, and also addresses fear and anxiety due to prolonged school closure.

“Every child has a right to education, but thousands of children in underserved communities will miss out on learning because of the adverse impacts of the COVID-19 pandemic,” Muyot said.

Save the Children Ambassadors Katarina Rodriguez and Xia Vigor will lead the storytelling sessions, helping parents and caregivers instill the love of reading among their children.

Actress Ria Atayde will also joi n the storytelling series which will raise funds for Project ARAL (Access to Resources for Alternative Learning) that will benefit

low income and marginalized families in the Philippines.

Project ARAL helps children to access quality learning and holistic development experiences with their families at home.

It also seeks to support parents and guardians to provide early learning experiences to their pre-school children.

The Save with Stories campaign was started by Save the Children in the US, through its ambassador Jennifer Garner and actress Amy Adams. Garner and Adams provided fun learning activities to children and parents and in the process, raised funds for children who were missing meals due to school closure.

Hollywood celebrities Drew Barrymore, Jude Law, Pierce Brosnan, Chris Evans, and Meghan Markle are just some of the famous names who also read stories.

Now, Save With Stories is already a global movement with more than 270,000 followers, and 27 million views on social media.

The campaign inspired over 30,000 people to donate and help feed and educate children during the coronavirus crisis. It was launched in countries where Save the Children is present such as the United Kingdom, India, and now, the Philippines.

“We thank all the celebrities who are using their voices to amplify our calls, and to everyone who are continuously supporting Save with Stories Philippines and are helping children and their families to have a chance for a better future,” Muyot concluded.

O

YO Hotels & Homes is rolling out its Sanitized Stays in the Philippines from 1 June 2020. Under the initiative, OYO will implement comprehensive hygiene protocols and step up vigilance measures pre and post-check-in and throughout its customer journey, to curb any potential spread of Covid-19.

Check-in & check-out: To ensure social distancing, OYO will revamp its guest checkin & check-out process to a minimal touch process. The hotel chain is in the process of acquiring the required approvals for guests to upload their IDs and complete their formalities at the hotel with minimal staff interaction.

Similarly, check-out and payment processes are being restructured to ensure minimal staff interaction.

Minimal contact service: To ensure social distancing at all customer-facing touchpoints, OYO will introduce minimal contact room service and will train the housekeeping staff on the same Sanitized Stays Tag: All OYO properties enrolled in the platform will have the Sanitized Stays logo displayed on the Oyo App and Hotel Booking Platforms. Prior to being awarded this tag, hotels will go through an initial check, followed by checks are regular intervals for compliance. Out of these, properties that have cleared the background check will display the Sanitized Stays tag on the booking page. An audit based on reviews from guests will be conducted on the properties regularly to ensure that feedback, reviews and recommendations are taken into consideration to ensure they continue to be accredited as Sanitized Stays.

Training of on-ground teams: The new training module will incorporate SOPs on the changed operating procedures across functions like:

Health screening shall include temperature checks and symptoms for guests as well as employees. Guests, Vendors and Contractors will be required to complete travel and health declaration.

There will be disinfection of the space frequently with the placement of hand sanitisers at the reception and the increased need to wear safety gear at all times Room dining and avoiding public areas shall be encouraged.

Distance markers on floors are placed to highlight the correct physical distance people must adhere to.

Guests will be requested to handle their own luggage as far as possible (unless the guest is a senior citizen or has a physical impediment). All luggage will also be sanitised.

Hotel proprietors and staff can exercise discretion to accept or decline guests who exhibit signs and symptoms associated with Covid-19 such as fever, cough, shortness of breath, runny nose, headache and sore throat.

The Department of Health's Crisis Preparedness and Response Centre (CPRC) will be contacted if guests and staff show signs any staff members show such signs and symptoms of having the virus.

The better normal at Bria Homes

I

T seemed that the world stopped since the announcement of the quarantine.

The pandemic pushed the Filipino people to adjust and obey the government’s rules for everyone’s safety and well-being. The question then was, how will Bria Homes Inc. continue to be of service to the community who are still striving to attain their own home?

With the drive to provide Filipino families quality and affordable homes, the housing company quickly heightened its digital effort amidst the unfortunate situation.

Bria Homes’ Chief Operations Officer, Mr. Red Rosales expressed that “We need to see all the possibilities, challenge our perceptions, and lead this disruption of work. This is also our opportunity to show how we act in a crisis. And as we journey into the future, I am confident that with our new mindset, together we can conquer the challenges of the ‘New Normal’”.

And conquer it did. The company’s customer care department and admin support department immediately launched a massive information campaign through Bria’s different social media platforms, making the company more accessible to costumers. In addition, Bria expanded its digital presence even further by being on Pinterest, Spotify, Viber, and other instant messaging applications.

Numerous online listing websites have also been populated by Bria Homes, to ensure that

wherever in the internet, people will have a chance to know about house and lot offers from over 50 project areas nationwide.

As a precautionary measure and its contribution in “flattening the curve”, Bria proudly launched its online reservation and online payment methods. Here, having a home is a click away. Along with that, Bria’s sales force migrated its Product Knowledge Seminar (PKS), recruitment, tripping, and open house to the digital world. Wherever and whenever, Bria’s amenities and opportunities are readily available for people to browse.

Bria Homes is the people’s home of choice.

And during the time when people’s movement were limited, Bria Homes kept its promise by assuring consistent communication and innovative convenience to any Filipino dreamer wishing to have their new home.

First Metro named best investment bank in the Philippines

F

IRST METRO Investment Corporation, the investment banking arm of the Metrobank Group, received the Best Investment Bank in the Philippines award from FinanceAsia, a Hong Kongbased financial publishing firm. In 2019, First Metro received the same award from Asiamoney, another Hong Kong-based international publication.

First Metro president Jose Patricio Dumlao said, “The honor we received from FinanceAsia speaks of First Metro’s indepth understanding of the Philippine capital markets and remarkable ability to provide sound market guidance and innovative financial solutions to its clients particularly in a volatile and uncertain market environment. Despite a difficult market condition, First Metro managed to pull off a number of landmark deals during the awards covered period.”

In its announcement of award winners, FinanceAsia said, “The competition is always fierce, but this year it also took place against an unprecedented global backdrop thanks to COVID-19. What stood out was the banks' resilience and their ability to adapt to fast-changing conditions, not least in enabling most of their employees to

successfully work from home.”

During the awards covered period, First Metro accomplished 11 bond market transactions, two initial public offerings, and two M&A deals. Among the notable deals are the maiden bond offerings of ORIX METRO Leasing and Finance Corporation and Asia United Bank Corporation, the Premyo Bonds of the Bureau of the Treasury, the IPOs of Axelum Resources Corp. and Fruitas Holdings, Inc., and the asset-for-share swap between GT Capital Holdings, Inc. and Property Company of Friends.

“This award only inspires us to continue to work harder and deliver best in class investment banking services, help our clients seek opportunities and pursue their growth aspirations even through this challenging business climate”, Mr. Dumlao added.

First Metro’s wholly owned subsidiary, First Metro Securities Brokerage Corporation was also awarded the Best Broker.

FinanceAsia’s Country Awards annually recognizes financial institutions for their excellence in banking, investment banking, brokerage, and private banking in 20 territories, including the Philippines, Singapore, Taiwan, Thailand, Malaysia, Hong Kong, South Korea, China, and Indonesia.

BusinessMirror

Editor: Tet Andolong

Wednesday, June 10, 2020 B7

How real estate works for better air quality in the new normal

Gerold Fernando, executive director, Transactions and Advisory Services of KMC, says that health and safety of employees must be prioritized during these times

Rick Santos, chairman and CEO of Santos Knight Frank, Indoor Environmental Quality (IEQ) is now a must-have in real estate during the pandemic

Sylvester Wong, vice president for Strategy, Development, and Cities at AECOM Asia Pacific

Philip Mareschal, head of Property and Asset Management, JLL Philippines

Christophe Vicic, JLL Philippines country head

usable areas is still the most important way to maintain air quality.”

The importance of IAQ was also noted

by Philip Mareschal, head of Property and Asset Management of JLL Philippines, especially since people spend significant time indoors at their offices. “The Covid-19 virus has put in the forefront the discussion having a good IAQ. Some easy ways of improving IAQ are getting indoor plants, use of air purifiers, cleaning and sanitizing your HVAC air ducts regularly, as well as checking building materials and furnishings.”

The advantage of air purifiers is that property managers, landlords, and even tenants can have good IAQ even in areas with poor natural air quality or properties that have not been originally designed with air quality in mind. State-of-the-art air purifiers like AtmosAir can be used in hospitals, office buildings, condominiums and residences. These systems have been able to actively reduce bacteria and dust particles, and other pathogens.

Sylvester Wong, vice president for Strategy, Development, and Cities at AECOM Asia Pacific, a global infrastructure firm, also stated how IAQ has figured into their work and living spaces. “The quality of our work and living spaces has always been of high priority, which has guided not only our air circulation and interior office design and greening, but also the choice of materials and their potential emissions,” Sylvester noted. He said that the factors they consider when it comes to indoors are

flexibility in work hours, size of floorplates, space for employees, contained and compartmentalizable control, and access to fresh air.

For Christophe Vicic, Country Head of JLL Philippines, employee safety is important, and it is something that employers and their staff should plan and coordinate on. “Our priority is to ensure that protocols are fully defined. There’s no room for inaccuracies and there is no such as thing as enough when it comes to reminding your employees on what needs to be done when saving lives are at stake,” Christophe stressed.

According to Rick Santos, chairman and CEO of Santos Knight Frank, a real-estate services and advisory firm, Indoor Environmental Quality (IEQ) is a major consideration today in real-estate. “Healthy buildings have gone from ‘nice to have’ to ‘must have,’” Rick mused. “Clean indoor air, good lighting, thermal comfort, acoustics, and ergonomic furniture all contribute to creating an atmosphere that impact the well-being and health of employees and tenants.”

He added that even before Covid-19, they have seen a rising number of building owners and occupiers who have sought their help in enhancing their IEQ. The pandemic has only accelerated this trend.

As we continue to take on the new normal in the coming days, more challenges are to come, many that we may not have expected. It is important to prepare and not to take for granted our health and safety, especially when it comes to elements like IAQ. May we take our lessons from these real-estate leaders to take the measures they have suggested into our lifestyles, as we continue the battle with Covid-19 in our communities.

A better way to live the ‘new normal’

Lamudi offers brokers free listing

Amor Maclang

I

first dibs in real estate

N this so-called new normal that we are currently in, we’ve had to adjust to so many new ways of living—such as wearing masks and physically distancing ourselves from people in public.

More than these, however, the need to keep ourselves and our surroundings clean and sanitized is never more emphasized than now.

Last week, I wrote about air quality in our properties and how it is crucial to maintain it, especially during this pandemic.

Although the clamor for keeping condominiums, hotels, and hospitals clean and

sanitized has always been there even before Covid-19, we have become more vigilant about it. And this includes something we may be taking for granted because it is something we cannot see: Indoor Air Quality or IAQ. IAQ is the air quality within and around buildings and structures, especially related to the health and comfort of building oc-

cupants. As I stated in my previous column, we should not take IAQ for granted because a low level of IAQ can affect our health, leading to conditions such as aggravated asthma, bronchitis, emphysema, lung and heart diseases, and respiratory allergies. It can even affect mood and concentration.

Some of my friends in the property industry shared their thoughts on how important IAQ is in current times, especially now that we are doing our best to manage the Covid-19 situation. Property developers and managers shared their insights on air quality and how to achieve it, especially in an era of health and safety consciousness.

“The attention now is really to place much premium on disease prevention and stopping the contamination,” shared Gerold Fernando, executive director of Transactions and Advisory Services of KMC, a real-estate services firm. “Employees are a huge chunk of the human population and so all measures must pivot toward securing the well-being of the people, particularly the occupiers.”

“Indoor air quality has become a major concern in light of the pandemic situation.

Depending on the building’s type of mechanical system, there are multiple ways to increase indoor air quality including installing UV [ultraviolet] lighting systems in your air-con ducts, having air purifiers and using ionizers,” explained Delfin C. Wenceslao, CEO of D.M. Wenceslao and chairman of Urban Land Institute (ULI).

“For us, ensuring that continuous fresh air is supplied in our buildings’ enclosed and

I

N dealing with the global pandemic, Filipinos— like the rest of the world—have had to embrace drastic changes in the way they live and work. With the enhanced community Quarantine (ECQ) in place, much of the urban work force have been compelled to work from home for the better part of two months.

However, those who have the luxury of owning a home in Pico de Loro Cove at Hamilo Coast (www. hamilocoast.com), found themselves “telecommuting” with the sea and forest-covered mountains as backdrop. Residents traded driving through traffic-clogged roads for daily strolls at Pico Beach, refreshed by the soothing sea breeze and the sound of water lapping on the shore. They slept soundly at night, thanks to the hardworking Property Management Team that certifies the development’s safety and security on a 24/7 basis.

Yes, at Hamilo Coast, on-site property management enables residents to cope better with what is rapidly becoming a new way of life.

One of the challenges of modern living is being able to keep one’s home safe, well-protected, and properly maintained. In the context of residential developments that have risen throughout the country over the past two decades, property management is a factor that homeowners must seriously consider before making that crucial decision to purchase.

Thus, many who have moved to Pico de Loro Cove, the maiden community of Hamilo Coast, and who are contemplating on acquiring a home at FREIA—Pico de Loro Cove’s most recent luxury mid-rise residential development—are assured of impeccable service, whether they are staying for the weekend in their personal getaways or permanently settling into their second home. Here, SM Prime has proven its expertise in property management and community development in a number of ways.

Pico de Loro Cove Condominiums

Continuous groundskeeping. Each property is maintained following a strict routine schedule and features meticulously landscaped surroundings.

Likewise, amenities such as swimming pools, playgrounds, and pocket gardens are kept safe and hygienic by well-trained maintenance teams; 24/7 safety and security. Competent and personable security personnel patrol the grounds round-the-clock to ensure that residents are kept safe within the property. Experienced emergency crews continually train and are primed for any eventualities.

Sustainability is key. A main consideration

for many modern homeowners is a developer’s track record for sustainability. Indeed, for Hamilo Coast, sustainability is a holistic program that starts with practical applications in all aspects of estate and building maintenance, as seen in its provisions for waste segregation and management, wastewater recycling, and the use of solar panels to reduce its energy footprint.

Furthermore, together with the World Wildlife Fund (WWF), Hamilo Coast takes great care to ensure that endemic bird species and other wildlife in the Hamilo Estate are left unperturbed, while the mangrove forests, fauna, and seaside nature trails are preserved for all to appreciate.

It’s all about community. But more than anything, Property managers at Hamilo Coast are also about maintaining the integrity and conviviality of its resident community. Property management and residents have open communication lines as everyone collaborates on continually improving the overall experience of seaside living.

Greenmist Property Management Corp., Pico de Loro Cove Condominiums’ extremely capable property manager that touts years of experience managing more than two dozen residential properties, helped keep residents safe and healthy throughout the duration of the ECQ. While security personnel monitored the grounds throughout the day to enforce social distancing, health-care personnel were also on stand-by to handle potential emergencies within the community.

Protocols were also implemented with regards to proper sanitation in all areas. This included providing alcohol and disinfection stomp mats in strategic public posts and frontliners wearing proper personal protective gear as they did hourly disinfection of all common areas such as lobby floors and walls, common area toilets, and elevator panels. This was done throughout the day and then again at night with a chlorine solution.

Having done so, the Pico de Loro Cove Condominiums Property Management Team prides itself on capably safeguarding the health and security of its unit owners in the best and most prudent manner possible.

Hamilo Coast offers the perfect resort living experience. Here, residents enjoy the benefits of living in a sanctuary so close to the sea, in an environment where nature is virtually unspoiled, and where one’s mindset is relaxed, knowing that everything vital is in the best of hands. Reni Salvador

By Roderick L. Abad

T

O aid real-estate brokers in their plight amid the coronavirus disease 2019 (Covid-19) crisis, Lamudi offers them to upload on its portal up to 50 ready-for-occupancy (RFO) and rental listings for free until June 30.

This initiative will help the sellers, especially those who have lost the means to spend on a Lamudi subscription, get enough exposure for their properties to be seen by potential buyers and investors online.

In a survey conducted by Lamudi, brokers and agents bared various problems they experienced during the enhanced community quarantine, including difficulties in conducting trippings and experiencing a slowdown in leads.

Such initiative helps them, especially with the latter, allowing property seekers to see their listings when they search online.

Early in May, the demand on such real-estate platform has already recovered 100 percent. With this development, this offering is expected to enable brokers market their listings on this channel that enjoys 1.5 million monthly site visits.

On the other hand, it will allow them to catch high-quality leads from the Philippines and overseas, which will aid in their recovery during the lockdowns.

Since this promo is open for everyone, it also levels the playing field because even new and starting brokers can enlist in the platform where established players are.

To avail this so-called Modified Enhanced Listing Offer, brokers simply need to log in to their Lamudi account or register with a valid e-mail address. Then, they can already start uploading their properties.

Established in 2013, Lamudi is now a popular brand and well-established player globally, particularly in the Philippines, Indonesia and Mexico.

The portal’s estimated consolidated real-estate transactions in these three markets with a combined population of nearly half a billion people, is $55.1 billion annually.

Together, they have a potential commission pool of over $2.3 billion for real-estate professionals.

Sports PBA BLEEDS P1M A day BusinessMirror

B8 Wednesday, June 10, 2020

PHILIPPINE Basketball Association Commissioner Willie Marcial and his deputy, Eric Castro, share a light moment during Tuesday’s online forum.

By Ramon Rafael Bonilla

T

HE Philippine Basketball Association (PBA), just like everybody else, is no immortal with Commissioner Willie Marcial admitting the league is losing no less than P30 million a month during the pandemic.

“We are really hit hard. All the businesses are affected,” Marcial told the Philippine Sportswriters Association Forum that went online for the second week on Tuesday.

“I can conservatively say that we are losing some P30 million a month,” he told the forum presented by San Miguel Corp., Go-For-Gold, Amelie Hotel, Braska Restaurant, the Philippine Amusement

Marcial: ‘Sa PBA pa rin ang Alaska!’

P

HILIPPINE Basketball Association (PBA) Commissioner Willie Marcial on Tuesday belied reports Alaska is quitting the league.

And what it took to confirm that the Aces are staying in the PBA was one simple question that Marcial asked to Alaska governor Richard Bachmann.

“I asked Governor Dickie Bachmann about the report and he just laughed about it,” Marcial told the online edition of the Philippine Sportswriters Association Forum where he guested along with his deputy and PBA Operations Head Eric Castro.

Alaska also released a statement affirming its commitment to maintain its PBA team.

“Alaska is eager for the season to resume and will be ready for battle,” the statement said. “More important, Alaska is staying the course to show that our team will always contribute to the welfare of the league.”

There were some reports that the Covid-19 pandemic pressed down on Alaska’s operations and that its PBA team has to be sacrificed to save the company. The same reports say that a fried chicken company that has been generously sponsoring basketball teams and events is taking over the franchise.

But these again turned out as mere rumors or speculations.

“For the past seven years, I’ve been hearing that Alaska is leaving, and it never happened,” Marcial told the forum presented by San Miguel Corp., Go-For-Gold, Amelie Hotel, Braska Restaurant and the Philippine Amusement and Gaming Corp. and powered by Smart.

Alaska owns 14 PBA championships and is one of four grand slam teams, having swept the threeconference league in 1996. The Aces’ last title was the 2013 Commissioner’s Cup. Ramon Rafael Bonilla

So hot on target in online chessfest

W

ESLEY SO finished off France’s Maxime VachierLagrave, 13-5, in the final half of their quarterfinals series to advance to the last four of the Clutch Chess International on Tuesday.

Sitting on a commanding 5.5-2.5 lead after the first six matches, the 26-year-old Filipino-born grandmaster scored started the second day of the tournament with consecutive draws before the top French player saw daylight and won the ninth match.

A draw in Game 10 kicked the Caviteño’s consciousness as he punished his opponent in the final two matches with victories worth three points each.

So, who embraced the US chess federation in 2014 to take his act to greener pastures, is on track to pocketing his second straight online title after taking the inaugural US Clutch Chess late last month.

He awaits the winner of the quarterfinal between No. 6 Italian-American Fabiano Caruana and No.3 Cuban-American Leinier Domingues-Perez.

In the other bracket, Norwegian world champion Magnus Carlsen defeated eighth-seeded US bet Jeffrey Xiong, 11.5-6.5.

Carlsen will take on either No.5 Levon Aronian of Armenia or No.4 Alexande Grischuk of Russia in the semifinals. Ramon Rafael Bonilla

and Gaming Corp. (Pagcor) and powered

by Smart.

The PBA played its last—and only game so far—before the lockdown last March 8 with San Miguel Beer beating Magnolia, 94-78, at the Smart Araneta Coliseum.

After that, everything was closed following the implementation of the enhanced community quarantine because of the Covid-19 pandemic.

With no games allowed, the PBA coffers suffered from the absence of gate receipts, sponsorships and television broadcast, according to Marcial who translated the loss to P1 million a day.

“This crisis spared no one,” he said.

To cope up to the situation, Marcial said

the PBA had to utilize its reserves.

“Good thing we have our savings,” he said. “This is a huge sacrifice, but no one wanted this.”

All the PBA could do now, Marcial stressed, is to wait for the Inter-Agency Task Force on Emerging Infectious Diseases to allow the return of basketball.

With the year already halved, Marcial said the league is now more bent at a oneconference 45th season, which could run in the last quarter of the year. He said the PBA Board of Governors would decide in August whether to resume or scrap the season.

But Marcial is optimistic of a return.

“There is a very good chance the league will be able to restart operations and hold

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

even just a conference for its 2020 calendar,” he said. “In a scale of 1 to 10, 10 being the highest, I say a return is ranked No. 7.”

The PBA D-League also knelt during the pandemic and according to the league’s deputy commissioner and operations head Eric Castro, who also guested in the forum, a return would depend on the IATF. The PBA has submitted its recommendations for a return-to-play scenario in the absence of a vaccine for the virus its utmost concern is on how to address health precautions once training is allowed by the IATF. Marcial said he is confident a return-totraining or return-to-play approval from the IATF would cascade to practically all sports in the country.

“Once we get the IATF’s now, other sports—like football and volleyball—would slowly return to training or action,” he said.

“The PBA would be a gauge for most other sports. We could set as a model for other events,” Castro said. “So I hope the IATF considers our request. It won’t be abrupt, it would be step-by-step.”

The PBA is also pinning its hopes on the NBA’s return on July 31 as well as the major football leagues in Europe and Asia.

“They [NBA, etc.] would be a big help to our cause,” Marcial said.

The NBA, English Premiere League and German Bundeliga—as well as leagues in China, South Korea and other parts of Europe and Asia—have resumed or scheduled resumption of games in stadiums without fans.

ZERO DEATH AT NINOY AQUINO STADIUM

A

LL 123 Covid-19 patients have gone home—the last having been sent off last Saturday amid the cheers of the courageous medical and security staff—after fully recovering from the killer disease at the Ninoy Aquino Stadium (NAS) in Manila.

“We thank the Lord that all 123 patients at the NAS were healed and have returned to their respective families,” Philippine Sports Commission (PSC) Security Supervisor Angel Dayag said.

“The doctors from the AFP [Armed Forces of the Philippines] did an excellent and heroic job attending to the patients.”

The youngest patient at the NAS was 18 and the oldest was 63.

Besides the NAS, the other PSC facilities that were commissioned to become quarantine facilities dubbed “We Heal as One Centers” were the Rizal Memorial Coliseum also inside the Rizal Memorial Sports Complex in Malate and the PhilSports Multi-Purpose Arena in Pasig City.

With no more patient to attend to, the NAS is now undergoing disinfection procedures that started on Monday and will last until Friday.

The Rizal Memorial Coliseum has only 67 patients, according to the AFP Health Service Command, while Philippine National Police Health Service Head Lt. Col. Jay Carpio said the PhilSports is catering to 34 patients.

The patients are either suspected of having contracted the virus, exhibiting mild positive symptoms or are positive of Covid-19.

“We are all confident that the patients in the PSC’s care will all recover and just like those who have gone home, they would soon return to their families,” Dayag said. “Zero death, prayers did it.”

Security at the PSC facilities are tight with AFP and PNP personnel locking down the complexes to nonessential individuals. As a result, the PSC went extremely skeletal in its manpower during the quarantine and obliged athletes and coaches residing at the facilities to go home.

Tokyo gov seeks assurance on travel deal, quarantine

T

OKYO Governor Yuriko Koike is uncertain if the nowpostponed Tokyo Olympics could go ahead without a quarantine period and an international travel deal.

Koike told Financial Times that the freedom for athletes, personnel and fans to visit Japan is the most important thing for holding the Olympics and Paralympics. Currently, foreigners from 111 countries are banned from entering Japan due to the ongoing Covid-19 pandemic.

Because of the crisis, the Games were moved back by a year and the Olympics will now start on July 23 next year after social and travel restrictions put the event at risk.

“A basic precondition for the Olympics is that the people of the world can come,” Koike said.

In April, a spokesman for Tokyo 2020 said that there was “no plan B” if the Games could not be held as scheduled in 2021.

To date, there have been more than 7.1 million confirmed cases of Covid-19 worldwide, resulting in the deaths of more than 406,000 people.

In Japan, there have been more than 17,100 confirmed

W

ELLINGTON, New Zealand—The Dunedin-based Highlanders are hoping 20,000 fans will attend Saturday’s Super Rugby Aotearoa match against the Chiefs, the first major rugby match to be played in front of fans since the beginning of the coronavirus pandemic.

Super Rugby Aotearoa is the first major rugby union tournament to resume since the Covid-19 outbreak and one of the first major sports events in the world at which there will be no limitation on crowd size.

The Auckland-based Blues expect as many as 35,000 to attend Sunday’s match against the Wellington-based Hurricanes because of the large number of national team All Blacks involved.

The decision of the New Zealand government on Monday to drop all restrictions on the size of public gatherings means social distancing is no longer required and sports can take place in full stadiums. New Zealand has no current cases of Covid-19 and hasn’t recorded a new infection in 18 days.

Blues Chief Executive Andrew Hore said 20,000 tickets to Sunday’s had been sold in the 24 hours since the government announced the move to alert level 1, which imposes no limits on fans at sports events.

Tickets “are really whipping out the door which is fantastic and I think it’s a sign of the fact that people want to go and have some form of social experience,” Hore said. “I also helps the industry a lot and the industries that feed off our industry. So it’s a big boost for the place.

“We’re thinking in excess of 35,000 which will be an amazing result and will make for a fantastic atmosphere and a massive lift for the players of both sides.” AP

cases, resulting in the deaths of 916 people.

On Sunday, high-ranking International Olympic Committee member Pierre-Olivier Beckers-Vieujant said that a decision on whether the Games can go ahead will be made in the spring of 2021 if the pandemic persists into next year.

“We are convinced that the Games will take place in 2021 or they won’t take place. All the sporting federations have to adapt to the Games’ postponement,” Beckers-Vieujant told the L’Avenir newspaper. “We can’t envisage a similar upheaval a second time.”

The Tokyo Olympics could be significantly scaled back if the Games do go ahead as planned, while others said a vaccine for Covid-19 will be needed to proceed safely.

Koike, speaking to CNN, added: “The postponement cost a lot and, more than anything, we do not know what the coronavirus situation will be like in July next year, we have a few uncertainties here,”Koike told CNN. “It costs a lot to begin with, we need understanding from the people of Tokyo for it. We must not spend too much, we have to make the Games safe for athletes and spectators.”Insidethegames

Al Mendoza alsol47@yahoo.com

THAT’S ALL

MJ: Education best route blacks to take PROVING once more that he is mankind’s one of a kind, Michael Jordan donated $100 million together with Nike’s Jordan Brand to racial equality and social justice causes.

It is another three-point shot for humanity, adding to the legend of the GOAT (Greatest Of All Time).

“We have encountered racism to be somewhat acceptable in certain circles,” Jordan told the Charlotte Observer of North Carolina. “That can’t be tolerated anymore. Education is such an important part of societal change.”

Earlier, Jordan, the six-time champion with the Chicago Bulls in the NBA (National Basketball Association), said he was “truly pained and angry” over the death of African American George Floyd at the hands (knee?) of a white policeman in Minneapolis, Minnesota.

Floyd died May 25 after police officer Derek Chauvin held his knee on Floyd’s neck for eight minutes and 46 seconds as Floyd lay handcuffed on the pavement, pleading that he couldn’t breathe.

Chauvin was fired and has been charged with murder.

Three officers at the scene were also dismissed and charged with aiding and abetting murder.

The four cops arrested Floyd over a grocer’s complaint that Floyd allegedly used a fake $20 bill at the store.

Investigation proved the money was real.

Rioting, looting and violence over more than 40 cities across America ensued as protesters demanded justice for Floyd.

Mincing no words, Jordan described it as the “tipping point” for decades of black outrage over brutality toward people of color.

Jordan said the $100-million pledge will go to organizations working for “racial equality, social justice and greater access to education.”

The Charlotte Observer asked: “Why the donation?”

JORDAN: We have been beaten down (as African Americans) for so many years. It sucks your soul. You can’t accept it anymore.... We need to make a stand.

“What has to happen to change racist behaviors?”

JORDAN: Face up to your demons. Extend a hand.

Understand the inequalities. Sure, it’s about bargaining for better policing, but it’s more.

“How would you describe bias?”

JORDAN: Just because someone grew up in a slum doesn’t mean you should look at them as not being equal— so they, themselves, start seeing themselves as not equal.

You should not feel you’re better than others because you grew up with more advantages.

“Describe your emphasis on education.”

JORDAN: It’s education 110 percent. My parents always stressed that education is how you best bond with other people.

Education is the best route for black people to better themselves.

To compete to be the best you can be, you have got to be educated. If you look at this country, to get a college education is the best chance to stand up on your own.

“What’s your approach to philanthropy?”

JORDAN: I’m giving $100 million to help attack ingrained racism, to support education.... But this isn’t just about donations, writing checks. I’m challenging people to effect change, however they can.

How many of our current crop of athletes, both great and aspiring, can copy this latest of Jordan’s philanthropic acts?

Even your last peso can change the world.

TOKYO Gov. Yuriko Koike says the freedom for athletes, personnel and fans to visit Japan is the most important thing for holding the Olympics and Paralympics.

THAT’S IT It’s during these times that we could discern the real players from the fake, discipline-wise. The true will always find a way to keep in shape while competitions are off due to Covid-19. The fake? No brainer.

35,000 fans expected at rugby matches in New Zealand

THE Crusaders warm up during a training session at the Rugby Park in Christchurch, New Zealand. AP